Posted by Stamper_WI on 2/17/11 5:47pm
Msg #373218

Man forecloses on Wells Fargo

Sherrifs sale on contents coming soon
http://www.huffingtonpost.com/2011/02/17/patrick-rodgers-forecloses-on-wells-fargo_n_824765.html

Reply by Marian_in_CA on 2/17/11 6:13pm
Msg #373220

Good for him!

This is hilarious. I love that they noted the bank paid the judgment but still won't answer his letter.

Reply by John Schenk on 2/17/11 6:13pm
Msg #373221

LOL They paid him in January, all but $50, which is all that could be sold at the Sheriff's Sale would be enough to satisfy the remaining $50 owed. Pretty darned funny! Get'em Tiger! I bet he gets a $50 check before March 4th. LOL

JJ

Reply by Stamper_WI on 2/17/11 6:21pm
Msg #373222

Can he go back after them for not answering his letters? I would kepp writing them if I was him

Reply by John Schenk on 2/17/11 7:10pm
Msg #373232

He already got a judgment against them for not answering the letters he wrote them. All they have to do is miss answering that first letter within 20 working days and they're on the hook. They evidently missed answering several letters, he sued them, and got a judgment. I would guess that the insurance was dropped down to where it was supposed to be, although I don't know that. If not, and he's still writing letters about the inflated insurance value of the house then he could conceivably come back and hit'em again. I'm guessing the insurable value of the house issue was either resolved in the judgment or by agreement, but again I don't know. I really didn't read the articles that closely, and of course articles leave out some facts that could be important when wanting to look at it from another view.

That RESPA 20 day letter is powerful stuff when your lender starts jacking you around. A common thing that happens is when a lender places FORCE-PLACED INSURANCE on your house, even though they've already been provided with proof of insurance. Force-Placed Insurance is totally at the screw you rate and the outrageous premium is tacked onto your mortgage. That is another area that RESPA letters come in handy on the 20 working days to respond and 60 days to resolve.

JUST A LAY OPINION AND NOT LEGAL ADVICE, YADA YADA. AN ATTORNEY SHOULD ALWAYS BE CONSULTED FOR LEGAL ADVICE.

JJ

Reply by Robert Williams on 2/17/11 7:55pm
Msg #373237

Funny as the story is, it does bring up some questions...

You have to wonder why his mortgage company has anything to do with his insurance policy... did they do Forced Insurance because he allowed his homeowners insurance to lapse? Forced policies usually carry a huge premium.

Reply by Robert Williams on 2/17/11 7:59pm
Msg #373238

Sounds like he needs a new insurance agent... you know, one that knows about "Replacement cost riders"

http://articles.philly.com/2011-02-15/business/28536236_1_mortgage-fees-full-replacement-value-default-judgment

Reply by Moneyman/TX on 2/17/11 8:50pm
Msg #373245

This is hilarious. Bad press alone must be costing them a

lot more than the money he won. Good for him for not taking it.