Vampire Forecloses On Bank

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Bob07's picture

And the interviewer didn't even mention the fangs.  How droll!

Noa's picture

I think the interviewer was trying to be politically correct.  How droll!

Knightspirit's picture

That was pretty funny - considering we normally think of the banks as the Vampires!

Just a little background on this case - it really had nothing to do with the mortgage - although they seem to put it out there that way. All that happened was the bank decided he needed more insurance on the home since it was"historic" and would cost a fortune to fix in the event of a claim. He objected under the Real Estate Settlement and Procedures Act - and basically got an administrative record of non response - which he took to the court and turned into a judgment. The whole amount was a whopping $1700.00 - so nothing to make too much hoopla over really. But at least it brings to light the power of just doing a little research into the laws and having the guts to implement them. He DID get his money after all!

Noa's picture

Thanks for the clarification, Jeff.  It seems to me that this same procedure (administrative record of non-response) would also work in cases where the lender was foreclosing on the homeowner, wouldn't it? 

Knightspirit's picture

Yes - it does apply to a mortgage as well - but they will always respond in that case - but never with full disclosure. There are better "private" uses for the idea of non response!

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