I was laughing out loud when I read this news story. This is not one of those stories you hear of the little guy sticking it to the big guy; but rather, two people fighting it out on a level playing field. What is unusual is that this case involves a Bank being successfully sued by its own customer for not paying the customer’s legal fees from a failed action against that customer.
Please read the story here: “Florida Homeowner Forecloses On Bank of America”
Regrettably this story is far away from where I live, and the rules are very different in my country, but the satisfaction that knowing that there are places on Earth where consumers can seek reparations from the wrongdoer, even if that wrongdoer it a Bank is priceless.
Here in Canada this would be insurmountably more difficult as the seemingly endless resources that our Banks have compared to the average customer is hugely disproportionate. It is possible in Canada to sue a Bank, and be successful too, but these stories are far and few between. People should know the Banks are much larger institutions in Canada than they are in the USA per capita. In Canada we have the Big Five, where as in the USA there are over 3000 Banks throughout the country, so they are much smaller there, and have fewer resources to fight with. They are still dangerous creatures to fight with however!
Realistically there is probably more to the story than what we see. Why did the bank go after the customer for a mortgage that did not exist, as it was stated that the customer paid for the house in cash?
Why did the Bank not acknowledge the judge’s ruling that ordered the bank to pay for the customer’s legal fee as part of the legal defeat is suffered from the lawsuit?
I have to give credit to my form professor from Kwantlen Polytechnic University, Bob Basil aka @thebasil for passing this news story via Twitter to me. Thanks Bob!