The current foreclosure fiasco has been an ongoing thing for awhile now. The news stories are plentiful about different banks mismanagement and mishandling of paperwork mortgagees have sent in in hopes of a modification or assistance of some kind, sometimes having to submit packets of information multiple times because they’ve been told it was never received and then being told they don’t qualify anyway. Or being told they qualify and then the decision is reversed. It’s a cruel game being played. We could have bought some time by playing the game, knowing that we didn’t qualify, but we refused to do all the damn paperwork. We felt much better just walking away and letting the bank play with other people.
In another similar vein, banks do the craziest things. Neighbors of ours who were pretty much forced to foreclose due to a job loss, left their home one year ago, it has been auctioned and sold; just a few days ago they got the following e-mail from their previous mortgage holder, Wells Fargo:
|Win up to $15,000 —
Switch to Online Only Mortgage Statements
|A winner every week — the sooner you switch the better your chances to win. Switch Now I told my neighbor they should go for it and enter the contest.|
I’ve also read two articles just recently about people whose homes were completely paid off and the bank came in and “foreclosed” on them. One couple found the bank had come in, removed the contents of their home and changed the locks; the home the bank really wanted was across the street and a few houses down.
It’s always something.