LAS VEGAS — Countrywide Home Loans has been ordered to pay $1.3 million after it foreclosed upon the wrong condominium.
An address error that was not caught in time led to the verdict. The Calabasas, Calif.-based company had intended to foreclosure upon another condo in Gerald and Katrina Thitchener's complex.
The family was temporarily residing in Arizona because of Gerald Thitchener's Air National Guard deployment. Because they expected to return, the family left the power on and left many of their belongings at the residence in Las Vegas while they rented a place in Arizona. When the contractor hired to handle the foreclosure inspected the unit, he assumed that the place had been abandoned and hired another man to "trash out" the premises.
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The Thitchener's were informed by neighbors and family that their belongings had been thrown out on the street and that a property management sign was hanging in the window.
The Supreme Court of Nevada awarded the family $1.3 million.
Bank of America recently agreed to rework the loans of 400,000 people who obtained mortgages from Countrywide Financial Corp. to settle a series of predatory lending lawsuits. The bank estimated the settlement cost at $8.4 billion.
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