Latest Legal News: BofA 'Forecloses' on a House Bought With Cash

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Bank of America Took Possession of a House It Didn't Own
Foreclosures have been at record highs in the past couple of years, and some warn that a new wave of foreclosures may be coming. So, it's certain that Bank of America (BAC) has lots of properties it could legitimately seize. Nonetheless it chose to go after a Massachusetts couple's future retirement home in Florida, for which the couple had paid cash. Despite protests from the couple, which learned about the action before it occurred, the bank came in, removed the couple's belongings, changed the locks and turned off the utilities. The couple has sued for trespass and defamation, and is seeking damages and an apology from BofA.