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5478Re: [FreeOhio] response to: 'Bank glitch traps pair in web of foreclosure.'

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  • Christopher Baker
    Feb 17, 2010
      People should realize by now that the majority of banks are racketeers.
      When I lived in Columbus, I did all my at Heartland Bank. While
      Heartland wasn't as convenient as others, I felt like they still cared
      about people to a certain extent. Heartland was not a megabank, and I
      will never do my banking with them.

      I did have a safe-deposit box with Fifth Third. I had it because it was
      closer to home. All I had there was the box.

      When I moved here to Austin, I was happy to find many wonderful credit
      unions. Currently, I am as happy with my credit union as I have been with
      any of my financial institutions over the years. Bottom line, credit
      unions actually give a crap.

      It was actually pretty easy to join. All I had to join one of the local
      food co-ops.

      When things like this happen, you should keep in mind Hanlon's Razor:
      "Never attribute to malice that which can be easily explained by
      stupidity." I sincerely don't believe that the bank tried to steal money
      from these people. I imagine that they are simply that incompetent, lazy,
      scared, and stupid.

      You have to realize that most bank employees are scared to death of
      doing anything outside the rules. Like all bureaucracies, the procedure
      is everything--the outcome is nothing. This kind of system does not get
      the best workers.

      I remember I was once talking to a guy who worked for JPM Chase in some
      kind of mortgage area. He was talking about a woman who was being
      foreclosed on in the 29th year of a 30-year mortgage. I asked him:
      "Wouldn't it be easier just to give her the house at this point?" He
      actually said that all the costs involved in foreclosure were more money
      than was actually owed. Still, THE RULES had to be followed.

      If you can join a credit union, do it. It will be one of the happiest
      decisions you will ever make.

      Unfortunately, I did not join any when I lived back there. It was mostly
      because of location.

      Chris Baker -- Austin, Texas
      chris(at)chrisbaker(dot)net -- www.chrisbaker.net
      "When you stop growing, you start dying."
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