When First National Bank of Wellston, a lender in Ohio, repossessed a Vinton County home, the process went fairly smoothly – at first. The lender entered the home, emptied it of belongings, and changed the locks. Problems developed, however, when it turned out that the wrong home had been repossessed and the homeowner had to break into her home through a window upon returning from a two-week vacation. The bank is not disputing that it made a mistake and has said publicly that it wishes to “compensate [the homeowner] fairly and equitably for inconvenience and loss.” However, they will not compensate the homeowner for any items that were thrown away unless she can provide receipts for those items, making it highly unlikely that she’ll get much of any compensation whatsoever for the clothes, patio furniture, pool supplies, and other home items that were tossed during the repossession process.
The homeowner is asking for $18,000 to replace basically everything she owns, but the lender is, so far, refusing to pay up. “[First National] demanded that I had receipts for all my stuff that they threw away,” said the homeowner. Adding that “first of all, I don’t have receipts for all of my stuff [because] I wasn’t expecting a bank to come and accidentally repossess my house…and second, if I did, [they would be] in my house with all my belongings.” The lender says that they assumed the home was uninhabited because the door was unlocked and the utilities were turned off. First National meant to repossess the home across the street.
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Category: Real Estate