Sunday, February 14, 2010

They don't call them "banksters" for nothing

(From an email reflector)

In certain Intertubz circles, the nation's bankers are called "banksters", a play on the word "gangsters". This is because many people see them as one of the prime instrumentalities in our current economic faux paus, and believe they caused this on purpose just to steal all of our money. While I hold them partially responsible, based on my reading, I hardly hold them to that level of culpability--there's a lot of blame in this situation to go around.

However, foreclosing on a house that was paid for in cash in 2005, after your own contract employee has told you that it's the wrong house, is a really good way to keep the term going.

Bank of America, just how stupid are you?

1 comment:

TheOtherLarry said...

This is a really scary story. To think that a financial institution can foreclose on a property that they have no financial interest is beyond belief!

We just purchased our retirement home in TN and paid cash. If something like this happened, I just don't know what we would do.

As Dave Ramsey says, the national banks, "have lost their everlovin' mind!"

My advice to everyone: go local. Find a local community bank or a local credit union and deal with them.