Bank seems to have improperly placed a lien on the wrong property. Ugh.

[Poll_Blind]

Man, I read about this in the papers but never thought it would happen to me.

So I'm selling a small piece of property which is next to mine. Totally different tax lot, totally different address (even the street!). I'm selling the property as bare land so it's not bringing in much- we've even had at least one burglar arrested and in jail for trying to loot the structure on it. So this property has finally made it into escrow and the escrow people let me know that the big thing holding up escrow closing is a lien placed by my bank on the property for a Home Equity Line of Credit I have with them.

Which is fine, but I only signed up for the HELOC for the property my home is on. Signed paperwork just for the HELOC on my home, etc. I've got my own copy of the contract, seen the copy the bank has and they both match: But the bank (back in 2004) decided to put a lien on both properties.

This is just a sad state of affairs. I'm in Oregon, BTW. Everyone at my bank is always nice and really helpful. Really. But there wasn't any "Oh shit, let's get that fixed for you!" it was "Oh, looks like you have a case that it was recorded on the wrong property as well as the right one". So I'm trying to fill out the paperwork (meet the requirements) for my bank to release the lien on the "wrong" property.

Escrow is supposed to close tomorrow and everything else is fine- except this lien. They say it may be upwards of two weeks after I get them the things they need to release the lien, but neither I nor the bank can find where it's supposed to be there in the first place. Everyone at the bank is always nice but...shit. I guess I have more of a beef with their company than them.

So, don't think it can't happen to you. I really, never in a million years would imagine something like this would happen. Always keep my nose clean, I don't screw people over or even play hardball in business dealings.

Ugh.

I just needed to vent.

:cry:

PB

[Selatius]

1. Who do you bank with?

[Poll_Blind]

2. Not keen on saying, but it's a big bank and even one that didn't get caught up in the...

..subprime bullshit. Not one bit as far as I can tell. It's a national bank.

PB

[Selatius]

4. I switched to an established credit union long ago. It pays to have a say-so in how the bank is run.

This wasn't the case in my dealings with Bank of America or Citigroup.

[Poll_Blind]

6. I have a credit union that I've been looking at in town. They're some damned good people.

And while my bank is also good with the community, seems like the credit union is helping a lot of people who are far worse off, economically, than me to get back on their feet and in 2011, there's not a lot of banks I can say I feel go that extra mile to really help out people on the edge. That earns a lot of points with me.

PB

[aquart]

3. You copied this stuff to your congressman and local reps?

And the chairman of your state legislature's banking committee?

[Poll_Blind]

5. No, but that's not a bad idea. It's been one hell of an ordeal, all told.

I guess my thing is the way I do things in real life, I cross my t's and dot my i's so that there isn't ever even the hint of impropriety or anything like that. Like I said, I've always had good dealings with the bank itself, but...the way banks roll they just seem so casual about laying even their mistakes for you to pick up the pieces. And this is obviously down to the wire, time-wise.

Thanks for the suggestion, Aquart.

PB

[aquart]

7. Snail mail.

Verizon left me without internet for two weeks without phone for a month. Snail mail to my Senator (the only address I could easily find without the internet) and Verizon was johnny on the spot fixed it all and gave me a special number just in case anything else went wrong.

Years ago, a bank closed my account without warning or reason. One letter to my state representative and WOWZa, account open, two letters of apology, and interest.

Always go to the elected guys. That's why they have staff. They desperately want you to think they are effective and wonderful.

[PoliticAverse]

8. In case anyone missed this story about when Bank of American did something similar...

http://news.yahoo.com/s/time/20110606/us_time/httpmoneylandtimecom20110606homeownerforeclosesonbankofamericayesyouheardthatrightxidrssfullnationyahoo