Sad story. The husband shouldn't have took the easy way out.
One should try to have a local bank in the community where they aren't so big that they can't find a friggin check.
Wait for it the ‘Its all the Dead Beat fault’ crowd will be along shortly to get this straighten out.
At least now, she will not need as much square footage and will save money on a smaller place.
Sad to say but some people are just to stupid to be home owners.... Or motor home owners.
Very sad story. The man used the last of his money to buy a motor home so they wouldn’t live on the streets. It broke down as soon as he got it home. Too bad the husband didn’t realize that they had each other even if they had little else. Just so sad....
The socialists issue propaganda to stall on foreclosures, so property taxes will stay high enough to prevent layoffs of political regulators. Fewer local regulators means less power over us private sector slaves. But those foreclosures are coming sooner or later, and property taxes will go down (recent tax hike attempts already stopped by voters).
And real estate will fall as long as we Baby Boomers fall in an avalanche of croaks—at least the next 20 years or so. Have fun. Enjoy the slide. There won’t be any recovery, until millions of redneck men making products in small, free shops again begin to generate sustainable revenues. By then, we’ll see better leadership.
Wells Fargo is the toughest bank with which I have ever dealt.
They have some tough rules which are absolutely ridiculous.
I closed my checking account with them after two weeks.
Wells signed off on a Settlement with the DOJ over these exact tactics used on this family. Wells took a payment, in this case a Cashier’s Check, put a stop payment on it, placed it in a suspense account, and didn’t credit the payment until after a late charge accrued. Wells delayed crediting the payment with the money in the suspense account, forcing the family to seek alternatives. Then Wells contacted the family to offer a ‘loan modification’ they never intended to honor. The standard line of all the lenders, even mine in a similar circumstance, was ‘you have to miss 3 payments to qualify for a loan mod.” This is the deceptive business practice plied on desperate families by an entity in the finance field with access to all the financial records of their victims as ‘loan modification applications’.
Then the stall comes into play until the predictive software comes up with the ‘final extraction’ point where there are no further assets to acquire from the borrower and the Notice of Default it triggered. Three months later the husband finds himself still out of work, no unemployment, no money for attorney, ...
Sorry, this is really a story about predatory lending and Wells should be charged with negligent homicide.