$1 Error Leads Bank Of America To Threaten Foreclosure On House That Was Already Sold

A family in Utah sold their home earlier this year and thought they had rid themselves of their Bank of America mortgage. That is, until they received a foreclosure notice several months later for a house they no longer owned — all over a $1 coding error.

It wasn’t until several months after they had closed on the sale that the family’s accountant informed them that somehow they still technically owned the house and that they were now months behind on their payments and in danger of foreclosure.

So the wife contacted BofA who informed her that there appeared to be a $1 error that was holding up the title transfer.

“They said that they had to keep reprocessing it and this has been game we’ve been playing ever since,” she tells KUTV. “They just say they need to reprocess papers.”

But that never happened and she kept hearing the same story every time she contacted the bank.

KUTV was able to get a confirmation from a senior BofA rep that it was a “coding error” that the bank claims has now been fixed — and that the bank would remove the negative info from the family’s credit report within 90 days. But the wife says she has yet to hear anything further from BofA.

“It’s not like they don’t know our address; It’s not like they don’t know how to get a hold of us,” she says.

Get Gephardt: Home Foreclosure Over Missing $1 [Connect2Utah.com]

Thanks to Peter for the tip!