Bank fraud local style ...

[Mark75H]

Bank fraud local style ...


http://www.chestertownspy.com/herb-s...rged-document/

The Wills have an excellent payment history since their loans were first originated with the former Mercantile Eastern Shore Bank in 2005. PNC bought Mercantile in 2007 and took over servicing the Wills’ loans. PNC told the Wills they decided to call in the full amount of couple’s loans in October of 2010 — because the Wills’ primary home had lost value in the depressed real estate market.

Not because they didn't or can't pay ... but because the total of all their loans puts them underwater ...

The toppers are the forgery of a signature on one of the documents, mis-identifying the location - and - trying to use the allowed for commercial loans "instant foreclosure clause" on a residence which is not allowed in Maryland.

I hope the judge nullifies the loan and declares the outstanding balance a gift to these people.


About 20 years ago my brother had a bank try to screw him with something like this ... his lawyer told him the terms of the contract would not stand in court and he could do as he wished not paying another penny. He could not bring himself to do that, so he paid back the remaining principal but none of the additional interest or penalties ... the bank accepted.

What do you think about the stupidity of the bank? If they didn't start this they most likely would have received the total loan repayment with interest ... now if the bank prevails in court, they will own the house ... the business value will be zero ... the house is probably only 1/4 to 1/3 of the value of the whole loan ... if the bank looses ... the bank gets less than zero. The bank is fighting to loose either way

[MN1]

That's called achievement!

If you've heard their commercials you'll laugh.
Mark N

[David Mason]

It makes me sick thinking about how much time and money is pissed away with things like this...... all becasue the shareholders want to get rich.

Anyone still wonder why China is poised to take over as the first world country ?

[Mark75H]

I'll go one better, Dave.

More often its an exec trying to get a personal bonus for making a yearly or even just quarterly personal bonus goal - long term profits or health of the company be damned.


I can't get over the fact that 6 months is considered "long term" for capital gains. Long term should mean years not months.

[largecar91]

If you want to see a good movie, Watch "Inside Job". It is a documentary about the banking crisis in 2008. What led up to it and what realy caused it. Greed is the answer. The scary part is most of the Presidents "people" are from the boards of wonderful financial institutions like Fannie May, Fredie Mac, Merril Lynch, Aig. They are the ones that received 100's of millions in bonus's after they bankrupted their companies! You talk about corruption, these businesses were douple or triple A rated up until 2 days before going broke! My solution is "KILL ALL THE LOBBIEST"!!