Tuesday, August 11, 2009

Family loses home over 7-cent post office error

Big banks wallow in dough. They hit up the taxpayers for bailout money and charge outrageous fees on consumers.

And their foreclosure machine operates with almost no limits.

Once foreclosures ruin one town, major banks seem to enjoy moving on to a new community and doing the same thing all over again.

In Deckerville, Michigan, a family is losing their home because they underpaid the mortgage by...7 cents.

What makes this story even more outrageous is that this underpayment wasn't even their fault. It was because a postal clerk mistakenly issued a money order for $440 instead of $440.07.

The family later paid this 7-cent discrepancy. But the mortgage holder waited until then to foreclose.

Who holds the mortgage? Well, it seems to have been held by Countrywide Financial - a company that has made repeated harassing phone calls to me, even though I've never done business with it. This firm is now owned by Bank of America - one of the most arrogant bailout abusers. Bunk of America continued the foreclosure despite the family paying up.

The bank's only offer to negotiate involved making the family pay $3,000 more than they owe.

And now the house has been acquired by Bank of America at a foreclosure auction. The bank then violated the law by publicly disclosing the family's payment history.

This is how the bank treats a family after their 10-month-old daughter died in an accident.

Why are local authorities even enforcing this foreclosure? Especially because the error was by a postal clerk? If I was the sheriff, I sure as hell wouldn't enforce it.

(Source: http://www.azcentral.com/news/articles/2009/08/10/20090810mortgage-mistake10-ON.html)

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