Bank Of America Is Suing Itself In Foreclosure Suit

brian moynihanBrian Moynihan, Bank of America CEO

The Huffington Post has a headline that really caught our attention — “Bank Of America Sues Itself In Unusual Foreclosure Case?” Why would they do that? 

From HuffPost:

In the March 29 filing, Bank of America is seeking to foreclose on a condominium and names the condo owner and Bank of America as defendants in the suit. The company is literally seeking damages from itself in order to foreclose on the condo owner.

“We are servicing the first mortgage on behalf of an investor and we own the second mortgage,” Bank of America spokeswoman Jumana Bauwens told HuffPost. “Naming the second-lien holder in the suit is necessary to eliminate the junior interest,” Bauwens said.

Well, that’s weird.

The report says the Charlotte, North Carolina bank has sued itself for foreclosure 11 times in Florida’s Palm Beach County alone since late March.

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