A Tale of Two Headlines
From two entities that both cater to the financial industry, in chronological order. First from Bloomberg, October 7, 2010:
Man Who Had No Mortgage Faced Foreclosure Anyway
Jason Grodensky paid cash for a South Florida home last December. With no mortgage and full ownership, he had no fear of foreclosure.
And yet, Bank of America foreclosed on the house seven months later . . .
Two days later, from the Wall Street Journal:
We're not aware of a single case so far of a substantive error.
Um. In what universe is foreclosing on someone who does not owe not a "substantive error"?
In fact, I'd go farther than that. If you or I pulled that stunt, we would be on trial for theft. If Bank of America does it, however, it's apparently a minor technical error. At least in the Journal's view of America.
Man Who Had No Mortgage Faced Foreclosure Anyway
Jason Grodensky paid cash for a South Florida home last December. With no mortgage and full ownership, he had no fear of foreclosure.
And yet, Bank of America foreclosed on the house seven months later . . .
Two days later, from the Wall Street Journal:
We're not aware of a single case so far of a substantive error.
Um. In what universe is foreclosing on someone who does not owe not a "substantive error"?
In fact, I'd go farther than that. If you or I pulled that stunt, we would be on trial for theft. If Bank of America does it, however, it's apparently a minor technical error. At least in the Journal's view of America.