If you haven’t read this awesome TRUE story about a couple who actually foreclosed on a local
Bank of America branch, check it out now.
In times like these where the individual seems to be crushed on all sides by the collective, the party, the organization, the corporation, it’s cool to see a little guy win one. As it turns out, Bank of America served a Florida couple with a Notice of Election and Demand (NED). This is hardly uncommon in today’s foreclosure rich environment, but the twist here is that the couple didn’t have a mortgage with BofA. In fact, the couple didn’t have a mortgage at all! They paid cash for their home back in the nineties and hadn’t ever gotten a mortgage since.
Unsurprisingly, BofA wasn’t exactly chatty when the couple tried to reason with them to drop the proceedings. True to the moniker “Behemoth of America” BofA did nothing to stop the foreclosure and were eventually forced to do so by the courts. Read the article to get a feel for what happened next, but ask yourself this question when you do, what allowed this couple such freedom and power? To actually foreclose on property owned by one of the largest conglomerates in history is no small feat, it took extraordinary circumstances. But what were those extraordinary circumstances that empowered the Florida couple? You have to look closely, because it’s easy to miss. The truth is, these guys were ready and able to fight back because of one simple fact…wait for it…they had their mortgage paid off.
Yup, it may seem simple, even mundane, but the truth is that very few people anymore can boast the great accomplishment this couple achieved. The greatness didn’t start when they foreclosed on BofA, it started when they made the choices and sacrifices to eliminate their mortgage debt.
Hopefully that part of the story will catch on and inspire more Americans to the freedom and financial strength of debt free living. It’s tough to find a better way to live….
I wish you BetterBanking,