When Nature Strikes Back … Banks are People Too

I’m really not sure what quote to lead with today, for this absolutely fabulous story. I was leaning toward either “what’s good for the goose is good for the gander” or “revenge is a dish best served cold” … perhaps you can come up with something else when you read the story.

It seems as though a Florida couple has foreclosed on a bank (story here). It’s a short read, and well worth the time.

Some highlights. A Florida branch of Bank of America filed foreclosure proceedings against the Nyergers, who were not paying their mortgage. Of course, they were not paying the mortgage because they did not have a mortgage – having paid cash for the house. Somehow BoA made a clerical error and took ’em to court.

Not only did the Nyergers win the case, the judge awarded them damages, demanding that BoA pay all of their attorney’s fees. At this the bank started dragging its feet – so the Nyergers foreclosed on the bank!

They showed up, with the Collier county sheriff, and started seizing bank assets. As the article puts it:

“Sheriff’s deputies, movers, and the Nyergers’ attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller’s drawers.

After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.”

I feel for the bank – I really do (sort of like Patton felt for the Germans). If they had to tell you the real truth about their balance sheet, my guess is even the TARP didn’t fix all of their problems, and they’re seriously concerned about going under when defaults pick up again (did I mention that the housing market is in free fall again?). Still, the law is the law, and you can’t ignore the ruling of the court just because you’re struggling financially. Of course, you also can’t foreclose on a house when they owe you nothing at all.

So, what lead-in quote fits best here? For that matter, what title works best? You decide …

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