A Sacramento man nearly lost a house he paid for in cash when Bank Of America tried to sell it in a foreclosure auction. The mistake prevented the owner from renting out the house, but luckily the bank caught the error, caused by a data entry mistake, and called off the sale the day the house was scheduled to go up for auction.
The Sacramento Bee reports BofA’s error restarted a previous foreclosure action against the previous owner. The story calls Sacramento’s real estate market “chaotic” and says mistaken foreclosures are rampant in the area.
What’s the most heinous bank error you’ve suffered?
Wrongful home foreclosures rare – but devastating [Sacramento Bee]