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(Philly.com)   What do you do when the bank refuses to pay the settlement money from your wrongful foreclosure suit? Why, you foreclose on them of course   (philly.com) divider line 122
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39864 clicks; posted to Main » on 16 Feb 2011 at 12:00 AM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-02-15 05:15:08 PM
It's always refreshing to see the common man stick it to big corporations.
 
2011-02-15 05:20:34 PM
media.philly.comt2.gstatic.com
 
2011-02-15 06:18:33 PM
Good for him.
 
ZAZ [TotalFark]
2011-02-15 09:07:47 PM
He breaks his contract, they bill him $500 per month in response, and he's a hero for getting $1,000 of that back? That insurance they bought at his expense must be hugely profitable. The bank won this war.
 
2011-02-15 10:02:58 PM
He looks like a proper villain.
 
2011-02-15 11:21:57 PM

ZAZ: He breaks his contract, they bill him $500 per month in response, and he's a hero for getting $1,000 of that back? That insurance they bought at his expense must be hugely profitable. The bank won this war.


You don't know that. TFA says: "His homeowners premium would more than double, because Wells Fargo was insisting that he insure the home's full replacement value - about $1 million worth of coverage, the insurer told him." You don't know if the original mortgage contract stated "full replacement value" or "full note value."

If it isn't the former, then they made a unilateral contract modification which may or may not be legal in this case.
 
2011-02-16 12:05:48 AM
More of this needs to happen, banks are writing their own rules and have been for several years. Google "HAMP Failure" or "mortgage modification foreclosure" or "HAMP servicer-issued foreclosure"

Programs meant to help people stay in their homes are forcing people into foreclosures quicker and with far more debt owed to the bank than without the modification request.
 
2011-02-16 12:06:08 AM

The First Four Black Sabbath Albums: It's always refreshing to see the common man stick it to big corporations.


He didn't "stick it to big corporations". "Sticking it to them" would be like winning a frivolous lawsuit. They tried to ass-rape him and he punched back.

Frankly, everyone with a mortgage ought to be familiar with their rights. Banks would get away with a lot less.
 
2011-02-16 12:06:40 AM
Good to see our new banking overlords in Atlanta in the news again!
 
2011-02-16 12:07:14 AM
If I ever met this guy in real life, I'd run out and get married just so I can let him fark my wife.
 
2011-02-16 12:08:33 AM
upload.wikimedia.org

First thing I thought of... yes, I know the guy in the article isn't bald.
 
2011-02-16 12:09:49 AM
I'd fine him something for looking like that and buying that faux-tudor house.

/BRTFA - I think I missed consumer 1.1-10.9, must have been some good stuff in there.
 
2011-02-16 12:10:27 AM
As a minor investor in a community bank, I'd like to note that banks, like people, need to be judged individually. I prefer banks not publicly held.
 
2011-02-16 12:12:10 AM
He must have threatened to suck the banker's blood or cast a high level spell on the branch.
 
2011-02-16 12:13:18 AM

SuperCatBarf: As a minor investor in a community bank, I'd like to note that banks, like people, need to be judged individually. I prefer banks not publicly held.


But certain groups of people tend to exhibit certain traits. BMW drivers, for example, tend to be douchebags. Banks, amongst the community of businesses, tend to be akin to said BMW owners.
 
2011-02-16 12:13:25 AM
Bad... ass... way to go man.
 
2011-02-16 12:15:02 AM
movies.infinitecoolness.com

Snoop onto them as they snoop onto us.
 
2011-02-16 12:25:26 AM
I spent more time telling that website that I did not want to share the article on a half dozen social media websites than I did reading the article.
 
2011-02-16 12:26:53 AM
www.themudflats.net
 
2011-02-16 12:27:12 AM
Getting to the root of the problem: It's a fact that given today's depressed real estate market and the cost of labor/material - there is no farking way that most houses could be rebuild for less than or equal to the market value.

If a house was build between 1890 to 1930 by abundant European master craftsman who laid stone/brick, made stained glass, and carved oak/maple masterpieces - I think a good replacement estimate is about triple the market value.
 
2011-02-16 12:30:39 AM
Why would the bank care if it was insured for more than what is owed on the mortgage or not? As long as they get what's owed to them, they shouldn't care what happens.
 
2011-02-16 12:36:39 AM

doyner: SuperCatBarf: As a minor investor in a community bank, I'd like to note that banks, like people, need to be judged individually. I prefer banks not publicly held.

But certain groups of people tend to exhibit certain traits. BMW drivers, for example, tend to be douchebags. Banks, amongst the community of businesses, tend to be akin to said BMW owners.


So how do you treat black sailors?
 
2011-02-16 12:37:15 AM

doyner: If it isn't the former, then they made a unilateral contract modification which may or may not be legal in this case.


Wouldn't that fall under the category of "past consideration is no consideration"?

What did Wells Fargo give him in exchange for the change of contract?
 
2011-02-16 12:41:21 AM

Lunakki: Why would the bank care if it was insured for more than what is owed on the mortgage or not? As long as they get what's owed to them, they shouldn't care what happens.


I suppose you could look at it that WF is being extremely greedy. If the house burns down they want to make sure it can be rebuilt to what it was, so that if they are some how able to foreclose on it in the future they can still make a very nice profit off of it. Just a guarantee that the mortgage principal is covered isn't enough.
 
kab
2011-02-16 12:43:14 AM

ZAZ: He breaks his contract


Where in TFA does it state that he broke his contract?
 
2011-02-16 12:49:11 AM
FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa
 
2011-02-16 12:49:14 AM
Wells Fargo is a giant POS bank. I've had one credit card from them years ago and I hate them more than nearly any other credit card company. They just suck.

Good for this guy.

Fark those guys.
 
2011-02-16 12:49:58 AM

SuperCatBarf: doyner: SuperCatBarf: As a minor investor in a community bank, I'd like to note that banks, like people, need to be judged individually. I prefer banks not publicly held.

But certain groups of people tend to exhibit certain traits. BMW drivers, for example, tend to be douchebags. Banks, amongst the community of businesses, tend to be akin to said BMW owners.

So how do you treat black sailors?


I call them "Cookie" and try to get them to quit navy dive school.
 
2011-02-16 12:50:15 AM

kab: ZAZ: He breaks his contract

Where in TFA does it state that he broke his contract?


I think he was referring to the part where he was unable to compromise with the insurance company or the bank's own insurance policy.
 
2011-02-16 12:51:25 AM

cyclebiff: FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa


Hey... I've been to a few Crüxshadows shows in my day. In my... goth days.

I'll just stand over here now.
 
2011-02-16 12:55:38 AM

vinn01: Getting to the root of the problem: It's a fact that given today's depressed real estate market and the cost of labor/material - there is no farking way that most houses could be rebuild for less than or equal to the market value.

If a house was build between 1890 to 1930 by abundant European master craftsman who laid stone/brick, made stained glass, and carved oak/maple masterpieces - I think a good replacement estimate is about triple the market value.


Well, the root of the problem is that it's a turn-of-the-century mansion in the wrong part of Philadelphia, so it's actual value is low, no matter what it cost to build. If, as the article states, it were on the other side of the city limits (a couple blocks away) it would actually be worth a million dollars and the expectation would be that it would be replaced with a similar house.

I'm not clear on how they can legally expect him to carry insurance to replace the house EXACTLY as it is, especially in a case like this where the house would be worth a fraction of its replacement costs when finished.

/from Philly
 
2011-02-16 12:55:53 AM

KatjaMouse: cyclebiff: FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa

Hey... I've been to a few Crüxshadows shows in my day. In my... goth days.

I'll just stand over here now.


I've actually met the guy! I used to get serviced by his label back when I was djing a lot more :)
 
2011-02-16 01:00:05 AM

djslowdive: I've actually met the guy!


I've never been into industrial, techno or goth, but I feel like I have, too (I'd remember a white guy with a Bahamian accent). Probably just seen him out someplace.
 
2011-02-16 01:03:03 AM
Awesome... Wells Fargo can eat a bag of dicks.
 
2011-02-16 01:12:05 AM

ThematicDevice: doyner: If it isn't the former, then they made a unilateral contract modification which may or may not be legal in this case.

Wouldn't that fall under the category of "past consideration is no consideration"?

What did Wells Fargo give him in exchange for the change of contract?


Dunno. Article incomplete.
 
2011-02-16 01:12:25 AM

Ontos: Awesome... Wells Fargo can eat a bag of dicks.


Yes, lets move all our money into small local banks and credit unions.
 
2011-02-16 01:13:09 AM

SuperCatBarf: doyner: SuperCatBarf: As a minor investor in a community bank, I'd like to note that banks, like people, need to be judged individually. I prefer banks not publicly held.

But certain groups of people tend to exhibit certain traits. BMW drivers, for example, tend to be douchebags. Banks, amongst the community of businesses, tend to be akin to said BMW owners.

So how do you treat black sailors?


How do you like your beemer?
 
2011-02-16 01:13:27 AM

Lunakki: Why would the bank care if it was insured for more than what is owed on the mortgage or not? As long as they get what's owed to them, they shouldn't care what happens.


PREFU(KINGCISELY!!!!
 
2011-02-16 01:15:28 AM

ZAZ: He breaks his contract, they bill him $500 per month in response, and he's a hero for getting $1,000 of that back? That insurance they bought at his expense must be hugely profitable. The bank won this war.


He didn't break his contract, they changed his contract without telling him, against his wishes, and then ignored the legally required mediation to solve the problem. Great reading comp there, friend.

Just to make it clear to you, it is typically the party who begins acting contrary to the contract they hold who is considered the breaker of it. By changing the terms of their contract with him by fiat, without discussion or negotiation, it is WF that violated its terms and invalidated it, if anyone did.
 
2011-02-16 01:16:31 AM
 
2011-02-16 01:17:33 AM

Goopotato: First thing I thought of... yes, I know the guy in the article isn't bald.



I wouldn't go quite as far as Anton LaVey but he is a seriously creepy lookin' sumbiatch
 
2011-02-16 01:19:57 AM

austin_millbarge: Wells Fargo is a giant POS bank. I've had one credit card from them years ago and I hate them more than nearly any other credit card company. They just suck.

Good for this guy.

Fark those guys.


They pretty persistently try to add fees to your accounts, too. It's amazing to think that, with the tiny effort of moving the dates of your payments and deposits around and sticking on charges you refused when asked, a bank can legally rob you of its contents and then charge you a fine for the privilege.
 
2011-02-16 01:28:56 AM

Heron: austin_millbarge: Wells Fargo is a giant POS bank. I've had one credit card from them years ago and I hate them more than nearly any other credit card company. They just suck.

Good for this guy.

Fark those guys.

They pretty persistently try to add fees to your accounts, too. It's amazing to think that, with the tiny effort of moving the dates of your payments and deposits around and sticking on charges you refused when asked, a bank can legally rob you of its contents and then charge you a fine for the privilege.


Oh, great. WF is going to become my bank when they finish digesting what's left of Wachovia this November.
 
2011-02-16 02:12:22 AM

ModernLuddite: I spent more time telling that website that I did not want to share the article on a half dozen social media websites than I did reading the article.


Try Firefox and NoScript. I had zero troubles.
 
2011-02-16 02:12:28 AM
Seems like they are confusing reproduction cost and replacement cost.
 
2011-02-16 02:19:39 AM

KatjaMouse: cyclebiff: FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa

Hey... I've been to a few Crüxshadows shows in my day. In my... goth days.

I'll just stand over here now.


Nothing to be ashamed about! Dancing Ferret has/had some great bands on their roster.... DE/Vision anyone?
 
2011-02-16 02:30:21 AM

rotorschnee: KatjaMouse: cyclebiff: FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa

Hey... I've been to a few Crüxshadows shows in my day. In my... goth days.

I'll just stand over here now.

Nothing to be ashamed about! Dancing Ferret has/had some great bands on their roster.... DE/Vision anyone?


Probably going to see De/Vision live next month here in Seattle.
 
2011-02-16 02:36:16 AM
FTA: "Generally, we require hazard insurance that is equal to full replacement value of the property and structure," Wells Fargo spokesman Jason Menke told me.

Menke insists that the requirement "is primarily there to provide benefit to the customer." Without full-replacement coverage, he says, a total loss "would have a significant impact on a homeowner's ability to rebuild or replace the property."


It's never any fun getting a Dutch treat from a banker or attorney.
 
2011-02-16 02:39:44 AM

Trafficguy2000: Good to see our new banking overlords in Atlanta in the news again!


They are in Charlotte and San Francisco.

Suntrust is based in Atlanta.
 
2011-02-16 02:42:09 AM

djslowdive: rotorschnee: KatjaMouse: cyclebiff: FTA: "Rodgers isn't unemployed, or a deadbeat. He's a music promoter who owns Dancing Ferret Concerts - if industrial, electronic, or goth is your sound, maybe you've been to one of his gigs"


HAHHAHAHHAHAHAHHAHAHAHHAHAHAHAHAHHAHAHAHAHAH

* BREATH *

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHHAHHHAHAahaahahhaahahahahahaaaaa

Hey... I've been to a few Crüxshadows shows in my day. In my... goth days.

I'll just stand over here now.

Nothing to be ashamed about! Dancing Ferret has/had some great bands on their roster.... DE/Vision anyone?

Probably going to see De/Vision live next month here in Seattle.


I saw them live in Seattle a few years ago! They played at El Corazone - got to meet Thomas for a bit as he played the arcades in the bar area. Prtty good show, the chicks were all fawning over Stefan :D
 
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