Bank's stupidity
http://www.fosters.com/apps/pbcs.dll/article?AID=/20090102/GJNEWS_01/701029945/-1/SanNews1405
There was a therapeutic riding center that recently got foreclosed. Not only did the bank refuse the owner's offer of $1000/ month when things got tight, the bank also upped the monthly payments from $1500 to $1750
This isn't the only case of bank stupidity I've heard of recently. I can't find the article on the net, but I recently heard in the news of a man that tried to negotiate the purchase of his truck at the end of his lease. The bank refused anything but the amount listed on the original lease despite the drastic drop in prices recently. The company turned around and sold the vehicle to someone else for $5,000 less than the original owner had offered the company.
And we wonder why banks and the automotive industry are suffering.
I realize the problems are much deeper, but it seems common sense is not used at all.
There was a therapeutic riding center that recently got foreclosed. Not only did the bank refuse the owner's offer of $1000/ month when things got tight, the bank also upped the monthly payments from $1500 to $1750
This isn't the only case of bank stupidity I've heard of recently. I can't find the article on the net, but I recently heard in the news of a man that tried to negotiate the purchase of his truck at the end of his lease. The bank refused anything but the amount listed on the original lease despite the drastic drop in prices recently. The company turned around and sold the vehicle to someone else for $5,000 less than the original owner had offered the company.
And we wonder why banks and the automotive industry are suffering.
I realize the problems are much deeper, but it seems common sense is not used at all.