In yet another show of how banks like to make it difficult for borrowers to pay of their debts so they can force them into late payments, over the limit fees and foreclosure, we have a Bank of America banker and supervisor in Lakeport, CA refusing to accept a cash payment for a mortgage .
This is what I’ve just been told. Bank of America has just refused to accept my mortgage payment in cash and is insisting on a wire transfer. Apparently, in America, cash does not pay the mortgage anymore… is what I’m being told today…
According to the bank’s web site, they claim to be dedicated to making home loan payments easy to manage, especially when borrowers are faced with unique problems:
Home loan payment difficulties? Bank of America is committed to helping homeowners understand all their financial options. We can work with you to find the best solution to your unique problem. We’re here to help. (Screenshot)
In this particular instance, however, bank personnel seem to be doing exactly the opposite. They are either lacking in basic monetary knowledge, which is that Federal Reserve Notes (aka cash, US dollars) are legal tender for all debts public and private, or as evidenced by the alarmed and somewhat flustered facial expressions of the bank supervisor, know that they are complicit in promulgating the ridiculous policy of not accepting cash to make good on debts owed at one of the largest banking institutions on the planet.
Mac Slavo Views:
Read by 2,186 people Date: February 4th, 2012 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.
The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.
SHTFplan is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.