Why don’t short sales go through? Why can’t a homeowner get a modification? Why won’t the banks work with their borrowers? Why are banks still pursuing foreclosures across this country when they’ve got billions of dollars in bad loans on their books and untold thousands of vacant, abandoned or real estate owned property? Why do we clog our courtrooms every single day with the same wrongful conduct by the banks?
Why would BB & T, not take Sanji Mathews’ money?
Mark Stopa provides some very insightful commentary on these questions…..and it just makes me furious:
I find that community banks are often unaware of the actions of the law firms they hire. The law firms competing for bank business think that their job is to run up attorney’s fees even though it benefits the bank and the community to receive borrower’s payments and settle the matters. I have a case with M&I Bank (M&I Marshall& Isley Bank, recently defeated in Florida for pleading a complaint in the name of M&I Bank, not its real name) and the lawyers refused payment of all back (disputed) payments and all (disputed) late fees by overcharging $8000.00 in attorney’s fees which had not yet been earned and were not even earned after the bank pursued summary judgment. After summary judgment (which motion was pursued upon the denial of my clients funds to bring the account current) the affidavit of attorney’s fees was for $1,000.00 less than the settlement demand before hotly contested summary judgment. I really don’t think the community banks know what their lawyers are doing when this happens. M&I Marshall& Isley Bank is now owned by Bank of Montreal known in US as BMO Harris Bank, N.A. since early July, 2011. The M&I lawyers have falsely accused my clients of transferring property to a third party when in fact they bid in at Sheriff’s sale via my paralegal presenting my trust account check drawn on my clients funds from taking a loan against a retirement account. Community pressure appears to alert the community banks to the uncompromising view of the bank’s lawyers.