Is It Possible For a Customer To Foreclose on a Bank?

I always wondered about this scenario.  There are always so many instances of financial institutions sending out the moving van to foreclose on the "average Joe" because of their crumbling financial situation.  But some of the banks are in worse shape than WE are.  How come we can't "foreclose" on THEM?

Well, I guess we can!  I'd never heard about this until a friend of mine with a delightfully warped sense of humor, Harvey Vlahos, (owner of the gorgeous Altamont Manor)  sent me this.

This is from an episode of The Daily Show, with Jon Stewart that was featured in an article at The Consumerist.com.  It tells the tale of how Bank of America sent out a foreclosure notice to a couple in Florida.  What made it very odd is that they had already paid off their mortage.  They were free and clear!   What happens next is absolutely classic.  It's a 5 minute segment, but stay with it.  (there's some language here that's bleeped, but you can still make it out, so watch the kiddies here)

I guess the bank manager wrote the check for the $2500.00 in attorney's fees.   It absolutely amazes me that they let it go THAT far before straightening this mess out, but that's our financial system for you.

So kudos to this couple for having the guts to do something like this.  And thanks for giving us something to laff about -at your expense, unfortunately.

Hey, we have to have SOMETHING to keep us giggling as we watch our 401Ks disintegrate on the nitely news!