ARE YOU NEXT?
Tuolumne Woman Owns Home Outright
POSTED: 3:58 pm PDT May 26, 2010
UPDATED: 5:53 pm PDT May 26, 2010
TUOLUMNE, Calif. — Nancy Willmes paid cash for her Tuolumne home in 2001. So she was quite surprised when Bank of America send her a notice of default on the property in February.
“I honestly felt like Bank of America was trying to steal my property,” Willmes said.
She contacted Bank of America to try to find out why the bank believed it could foreclose on property she had purchased outright.
Willmes has chain-of-ownership records, which show Bank of America had sold the property to Fannie Mae years earlier. Fannie Mae foreclosed on the previous owner, and Willmes purchased the property with cash from Fannie Mae.
But Willmes said Bank of America did not care about the documentation.
The bank proceeded with the foreclosure, placing ads in the local paper and nailing a foreclosure notice to her door.
“I called the title company, the title company called B of A, and they refused to rescind it,” Willmes said.
Fearful she would lose her home to the bank, Willmes called KCRA Call 3, and a Call 3 volunteer contacted Bank of America.
Willmes said that’s when Bank of America began returning her phone calls.
The bank rescinded the notice of trustee sale, stopping the foreclosure.
In a statement to KCRA 3, Bank of America said the problem was a system error. It said it updated its records and canceled the sale.
“This is my whole life. This is my future,” Willmes said. “I’ve got to thank you guys for basically giving me back my home. That is a big relief.”
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