Turnabout 0
One can only hope . . . .
When Wells Fargo still didn’t respond, Rodgers got a $1,000 default judgment against it for failing to answer his formal questions, as required by a federal law called the Real Estate Settlement Procedures Act.
And when the mortgage company didn’t pay – does something sound familiar? – Rodgers turned to Philadelphia’s sheriff.
The result: At least for the moment, the contents of Wells Fargo Home Mortgage, 1341 N. Delaware Ave., are scheduled for sheriff’s sale on March 4 to satisfy the judgment and pay about $200 for court and sheriff’s costs.
It’s not a foreclosure issue and the homeowner has enough resources to take on the bank.
The bank has been trying to force him to buy a much more expensive homeowner’s policy than the one he had before, a “replacement-value” policy rather than the standard market-value policy.
The purpose of the insurance requirement in a mortgage is to hold the bank harmless in case the house burns down. The bank has no reason to force the homeowner to buy more, unless they are also in the insur–but I speculate, just like a bankster, with no idea of what’s actually going on, just like a bankster. I’m just not too big to fail.
Read the full story at the link.
