Banks Stealing Your Home?

My mortgage has bounced around several times — now to a bank with a reputation for cheating here and there. It looks as though our mortgage/house seizures are an ungodly mess. I am waiting to hear that a property of mine without a mortgage has been seized — as was the Florida man mentioned in Krugman’s piece below.

Needless to say with the job market a mess, unqualified people are grabbing what jobs they can and making innumerable errors. I spend much of my time straightening out particularly hospital charges that have been paid or should have been by our medical and backup insurance for the 20% not covered. I was sent by a doctor to deliver a prescription to an office a few floors down from his. Fortunately they would not take it because they were short of staff. When I checked next I discovered that no way would they accept my 20% additional insurance coverage. I am debating whether to continue without surgery on the old wrist that had been hit with arthritis which seems to be healing enough to use the hand carefully with a splint for heavier things. Fortunately I can use my right hand for most things — the left wrist is the problem hit by arthritis half a century after my high school football injury.

But back to the primary issue. With all the moving around of mortgages, errors seem to abound. One must watch closely to be sure one is not being had either intentionally or by staff inexperience.

Good luck with this crazy American economy! I thought retirement would be a dream. How wrong I was. My heart goes out to those who cannot spot errors and fight back.

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Krugman’s Op-Ed on Today’s Times

But do they actually have the right to seize these homes? Horror stories have been proliferating, like the case of the Florida man whose home was taken even though he had no mortgage. More significantly, certain players have been ignoring the law. Courts have been approving foreclosures without requiring that mortgage servicers produce appropriate documentation; instead, they have relied on affidavits asserting that the papers are in order. And these affidavits were often produced by “robo-signers,” or low-level employees who had no idea whether their assertions were true.

“A war is just if there is no alternative, and the resort to arms is legitimate if they represent your last hope.” (Livy cited by Machiavelli)

Ed Kent [blind copies]

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