• Florida Couple Forecloses on Bank of America

    A couple from Collier County, Fla foreclosed on Bank of America after the bank would not pay for legal fees they owed the couple.

    The problems started when Warren and Maureen Nyerges purchased a home owned by Bank of America. The couple paid cash in full for the property, negating the need for a mortgage. At some unknown point, the paperwork for the home was sent to the bank’s attorney to start foreclosure.

    The Nyerges took the case to court, managing to get the foreclosure dropped after 18 months of proceedings. A Collier County judge ordered Bank of America to pay the couple’s $2,534 legal fees. Five months passed and the bank still had not paid. Bank of America’s inaction caused the couple’s attorney to take action by moving to seize the bank’s assets.

    The Nyerges, attorney Todd Allen, moving trucks and armed deputies all converged on a Bank of America branch with the intent of taking the bank’s property to satisfy the debt. The attorney stated “I instructed the deputy to go in and take desks, computers, copiers, filing cabinets, including cash in the drawers.” The bank’s manager was visibly shaken by the incident.

    A little more than an hour had passed when the bank finally cut a check to satisfy the debt. A representative for Bank of America issued a statement apologizing for the delay in issuing funds. They claim the original request went to an outside attorney who is no longer in business.

    If you are seeking foreclosure help, or are interested in learning about short sale options, contact a Chicago foreclosure attorney. They can assess your situation and plan a course of action.

  • Site Owner of LTH Forum Files for Personal Bankruptcy

    Gary Wiviott, owner of LTH Forum has filed for chapter 7 personal bankruptcy. The actual filing was done in November 2010, but has only recently become known due to the trustee putting one of the assets up for sale. The specific asset is the LTH forum, also known as the Little Three Happiness forum.

    LTH Forum is a popular local restaurant forum, one that attracts users from all around the Chicago area. It is an active forum with almost 10,000 users, and could potentially generate income by the placement of advertising and selling email lists generated by the user base. Wiviott stated the value of the forum at $0 in his petition, allowing the trustee to put it up for sale.

    A personal dispute between Wiviott and Peter Daane, a charter member of LTH Forum and an attorney, plays a large part in the bankruptcy. Wiviott borrowed a sum of money from Daane and never repaid. Daane has since taken Wiviott to court and received a judgment for the amount. As a result of the judgment, Wiviott filed for bankruptcy.  The bankruptcy filing negated the judgment, meaning that Daane could no longer collect his money from Wiviott.

    In an attempt to gather interest for the website, Daane was responsible for informing local media that the trustee had opened up bidding for LTH Forum.

    The trustee placed the website up for sale, with the first bid of $40,000 made by LTH Acquisition, LLC. LTH charter members David Dickson, Ron Kaplan and Steve Zaransky are all active members of the forum. They plan to maintain the site as it currently exists, with no advertising or selling of emails if they win the bid.

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