patrick.net

It does not matter than ther owners were absentee landlords or didn't read the mail. That's no excuse for B of A's actions. It's irrelevant whether they live in the house or on another continent.

Did you guys even read the article? They own the home free and clear, and it is their primary residence. They are not "absentee landlords," they have a tenant that lives in part of the house. They did not receive any foreclosure notices. What happened was the bank made a mistake, foreclosed on a house 10 doors down, and sent a company to change locks and clear the residence, but sent them to the wrong house. The contractor that was hired to change locks and take possession of the house has already admitted wrongdoing, but the couple wants to go after BAC because they are claiming it isn't their fault.

ABC is a pretty trustworthy news organization. They do actually do a little bit of research before publishing stories like this, including looking at who owns the deed to the house.

Re: Thomas.Wong - The fact of the matter is that Bank of America probably doesn't care about this case. They will reach a settlement for a paltry sum of money, that will be paid by our tax dollars in the end, since they received bailout money.

What irks me is that the bank has no reason to be careful in this situation. Even if they get large damages, we just have to pay their loss as taxpayers. I would prefer that the executives of these companies get their personal assets seized to pay these lawsuits, rather than my money indirectly being seized through taxes.

The way to stop abuses by B of A, Chase, Citigroup, and other banks who received bailout money is to stop doing business with them.

When GM and Chrysler rec'd gov't assistance all you heard on the talk radio was how people weren't going to buy their next truck from "Government Motors". How about you stop banking with all these banks who also rec'd gov't money, and in turn have a very direct impact on so many people's lives. Open a credit card and bank accounts with a local credit union (make sure they own their own credit card accounts and aren't just using their brand on a Chase, etc card).

I moved my primary savings and checking business from Citibank to Alliant Credit Union over the past few months. It's a pain to transfer all the direct deposits and auto-debits, but as opposed to 0.002 interest I'm actually getting 2% interest on the Savings acct at the credit union.

It's also about time I closed my credit card with B of A. I'll keep my oldest card, a Discover card since early 90's so my oldest account history doesn't change. That'll still leave me with an AMEX, Visa, etc. Can't change my balance/available credit ratio because it's already 0/1 since I PIF anyway.

You want a revolution. Forget the guns, screw 'em by moving your business to a bank/credit union that will treat you well. You banks think you're Too Big To Fail? Well, let me do my part to make you a little bit smaller. F.U. big banks.