Re:Stop Payment: A homeowner’s revolt against the banks (2012)
by inetknght on Tuesday August 21, 2018 @07:08PM
(#17814696)
> The first letter you get is from your current bank.
Where in that letter can I say "I object to this transaction"?
Where in that letter can I say "I will be emotionally and/or financially damaged by this transaction"?
Where in that letter can I tell the bank that the new bank does not personally know me and I do not believe it can fulfill the obligations to Know Your Customer?
Re:Stop Payment: A homeowner’s revolt against the banks (2012)
by scarface74 on Tuesday August 21, 2018 @07:20PM
(#17814768)
You had a chance to “object” before you signed the loan. You are more than welcome to not buy a house until you save enough to pay cash.
The first letter you get is from your current bank.
How many have automatic payments setup that would just stop when the loan is sold?
I think I would notice if my largest bill wasn’t deducted from my bank account.
But at the end of the day, the bank doesn’t want your house. They don’t want to go through the trouble of foreclosure, for being responsible for maintenance while it’s being sold. They don’t want to go through the hassle of selling your house.
You will get letters, phone calls, notices, court dates, etc before your house goes into foreclosure. I doubt that people are sending thier payments to the wrong place long enough to go into foreclose.