Skip to comments.America's Dumbest Bank: Repos Wrong House, Destroys Contents, Then Refuses To Pay Owner's Losses
Posted on 07/30/2013 9:10:03 PM PDT by grundle
Katie Barnett, a 36 year old nurse from McArthur, Ohio, made the mistake of taking her family on a two week trip last month, never realizing when they left home that they would return to find the family residence ransacked, emptied and, for good measure, the locks to the doors changed.
Apparently, The First National Bank in Wellston, Ohio had set their sights on repossessing a home whose owner had fallen behind on the mortgage payments. That home was located on the Barnetts street at number 509a number clearly marked on the mailbox that sits out front of the house. However, when the bank sent Moe, Curley and Larry to take possession and empty out the contents of the foreclosed home, they somehow ended up at a property situated across-the-street and two houses up from the target; a home where the mailbox out in front is clearly marked 514.
It turns out, all Ms. Barnett wanted was $18,000a sum that included $9,000 worth of car engines and parts along with the loss of furniture, clothing, etc. which Barnett estimated to be the amount required to replace what the bank had taken or destroyed.
Yet, the bank presidentthat would be Mr. Thorne who clearly has firm and absolute control of his board of directors considering that he appears to still have his job todaythought that Ms. Barnett was asking for too much money.
(Excerpt) Read more at forbes.com ...
Ms. Barnett will reap millions out of the ensuing lawsuit. Nitwit bank president soon to be looking for a new job ... over 18K.
In other stories it was discussed how this is really a sham/shyster bank that has stolen a lot of money from it’s depositors - not paid all the dividends owed, charged too much interest, etc.
Not surprising such a bank thinks 18 grand is too much for a 100% total mistake on their part that they really do need to be sued for. If a bank did that to my house I’d sue their damn pants off.
She should own the bank after this.
I think Ms Barnett may end up owning the bank. Maybe then she can fire the Nitwit president, with extreme prejudice.
Can’t wait to see how this one turns out. Maybe justice will be done.
Never fear - these crack shot lawyers have offered her their services ...
The owners only wanted $18,000.
Thorne should have thanked GOD that was all they wanted. They should have had a blank check up to twice the retail value of the home.
Now, as the OP said, the owners will probably end up with a judgement that makes them the new bank owners.
And, as implied also, rather than fire him they should keep him around and torture him for the rest of his career until he quits (which would mean he doesn’t get unemployment).
What kind of business will this bank possible have, now, with all this bad PR?
Wow, what stupidity!
But banks are among the worst property managers on Earth, in almost all foreclosure cases.
Had a neighbor a few years ago get foreclosed. I came up with 3 different buyers, who offered what I thought was a fair price. The Bank would not accept a “short sale”.
The house just sold for considerably less than what was offered 3 years ago, by my friends.
This “Mr. Thorne” scumbag should have knelt down before Katie Barnett, profusely apologized, and add a “0” to the end of that eighteen grand and handed Ms. Barnett a cashier’s check for $180,000.
He should be arrested. Also, seeing as how Ms. Barnett is a nurse, heaven help him if he ever gets sick and winds up as a patient in the local hospital. Ms. Barnett and her fellow nurses might want to settle a few scores.
There you go people. If you have any money in this bank, take it out, ASAP.
I’d be very tempted to have a nice private talk with the banker, or maybe his wife. Somewhere like the supermarket, nice and public broad daylight.
I’m pretty sure that would clear things up.
I would love to see Drudge pick this up.
“Here’s my list of stuff. I’m glad you’re sorry, now just give me a check so I can go buy stuff to replace what you had stolen.
“What? You’re ‘not paying retail here’?
“Seriously, my list doesn’t match up with the list made up by bozos who couldn’t even bother to read the number on the mailbox, or even know which side of the street has even numbers?
“Right, thanks for your time. Oh, no, no worry, you won’t hear directly from me again. I’m going to go find a lawyer.”
Things that really get me about this case: 1) Police find out that it was an ‘erroneous foreclosure’ and consider the case closed. Oh man, keep that ace in your sleeve if you ever decide on a life of crime, simply say you broke into the wrong house... OH, right, keep forgetting, cops use that same excuse to not make good when they bust in the wrong house...
2) That the bank hasn’t pushed forward the names of the bozos who went to the wrong address (and really, it was the GPS’ fault? Who are these guys? The kids of the bank president?)
3) That the bank’s liability insurance hasn’t stepped forward, quickly pressed for a settlement with the nice woman and then turned around and sued the bank and the foreclosure agents for gross negligence, financial impropriety, and conspiracy to force the liability insurance to pay out even more.
Because if I worked for the firm that provides that coverage for the bank, the MOMENT I saw that program, I would be in the car, going to that address, inviting the family to stay at a local hotel at my expense, offer contractors to ‘restore’ the property, including repainting of rooms to ‘clean any traces of the violation from the property’, and insisted that there must have been quite a number of things forgotten in that list, and here’s three times the amount; your driver will be waiting for you in the morning to take you on a whirlwind shopping experience. And if I was incredibly lucky, all that expenditure wouldn’t even come CLOSE to covering the bill for their attorneys as part of the case.
But no; it seems like an extensive conspiracy of idiots are involved here. The bank president has taken charge of the issue, the insurance company is apparently silent, and mysteriously, there’s no arrest warrants being drawn up when the crooks who made an accident haven’t made good the situation. I don’t care if all her worldly goods might have run a grand retail; the MINIMUM bill from the lawyers will be a hundred grand.
Heck, who’s the bonding company for these repossessors, or their own liability insurance coverage? There really should have been a line of people at her doorstep in minutes to pamper her and keep her from filing a lawsuit.
I'm surprised that a two-branch bank with 36 employees pays dividends.
“There really should have been a line of people at her doorstep in minutes to pamper her and keep her from filing a lawsuit.”
The banks law firm is Dewy, Chteem. and Howe.
I forward this story to Drudge. I would love to see him run it, assuming the story is REAL.
"Umm, on the advice of our attorneys, we've declined your initial settlement offer and instead want a steep discount off of that offer. They assure me that they've reviewed the list written up by our repomen and that you are demanding far in excess of this list, and that further, a financial check on you shows that you've not even close to enough assets to secure a proper legal team to challenge us in court. And even if you managed to find someone, the worst case scenario is that we end up magnanimously granting you a check for the list you've drawn up, limiting any future compensation.
"Though, strangely, the bill for the consulting on this one question appears to have cost the bank a few grand... Ahh well, how does $5,000 sound?"
At the end of the day, I'm going to guess that the bank will spend tens of thousands defending themselves from this lawsuit, and tens of thousands more forcing the liability insurance company to pay up, and even more tens of thousands defending against the lawsuit by the liability company wanting their money back.
So, yes, Virginia, lawyers win again.
Wow. The stupid. It hurts to even read about.
I mean just wow.
The banks ins co should just pay her $50,000. And then erase this sorry excuse for a bank. Or at least it’s board and president.
The charges against Thorne and the Three Stooges could include: (might also include the Bank’s Board of Directors, depending on how they defended themselves legally on responsibilities and liabilities)
1. Breaking and Entering
2. Destruction of Private Property
4. Criminally negligent behavior, mayhem, etc.
5. Criminal tresspass
6. Being stupid while awake
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.