Too Much Truth Recap: Chase Bank is Equally Responsible

In a continuing conversation about the 103-year-old senior and her 83 year old daughter who is being threatened with an eviction, we learned today that Chase Bank had alot to do with this issue. Click the audio link to hear the ENTIRE show…

 

HOUR ONE:

HOUR TWO:

HOUR THREE:

More from Derrick Boazman
Comments

One Comment

  1. The Black Falcon says:

    “In 2002 another family member took out a second mortgage on the home from Deutsche Bank National Trust, according to Fulton County Civil Superior Court records. That loan ultimately was administered by JP Morgan Chase. According to the AJC, seven years after getting the loan — in March 2009 – Deutsche foreclosed on the property”

    I hate to sound like the Grinch in all this but what happened between 2002 and 2009. Did the family member who took out the second mortgage not pay it off? I may be wrong, but I don’t think banks can legally foreclose on property in which the mortgage is being paid as agreed. Secondly, where is the family member who took out the second mortgage and what is his/her responsibility in all of this? I know it is easy to blame the BIG bad banks, but it seems like some other things transpired before the banks decided to foreclose on the property. This is the part that is missing from the story. If the person who took out the second mortgage could not continue to make payments, he/she should have gone to the rest of the family and put all of the cards of the table. The family could have then gathered money to save the house thus negating this whole foreclosure fiasco.

    It seems like the family member who took out the second mortgage is the initial culprit, however, (for some) it is far easier to blame the banks than it is to hold someone personally acountable for their actions.

    Chase, Boazman said, “should write this off at a loss.”

    So, if I take out a 50k second mortgage on my 91year old grandmother’s house and not pay it back, should the bank just write it off as a loss because “it looks bad to evict a 91 year old lady?” What if everybody who had elderly parents, grandparents, etc. used this tactic? Do we let our emotions and compassion overide sound business practice?

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