In another example that we appear to be rapidly moving into a cashless
society, Bank of America in California refused to accept cash for a
mortgage payment. The manager of the bank said it was against their
policy to accept legal tender physical currency (aka U.S. dollars) as
payment for BoA mortgages.
The customer attempting to pay his mortgage, firefighter Robert
Somerton, recorded the ordeal in Lakeport branch which made the bank
manager so upset that he called the police. The police detained
Somerton for a half hour before releasing him with a warning that he may
never return to that BoA branch or he'll be arrested.
"I was shocked. I had no idea this would happen. Since when does a bank not accept cash?" Robert wrote after the affair.
Comment by:
(#045471) Entered on: 2012-02-07 19:03:39
Nice Job Pure Trust. Impressive.
Comment by:
Donnie chesman (#045552) Entered on: 2012-02-07 18:59:07
More and more the "Fundamental transformation of America"
is taking shape; the change accelerating almost exponentially..
the threatened change is happening; but hope is not found.
Comment by:
PureTrust (#010621) Entered on: 2012-02-06 12:17:35
This should be really good news for any homeowner. In the video, Mr. Somerton seemed to know what he was doing. Here's what to do if this thing starts to become the norm, or if you want to keep it from becoming the norm.
1. Take 2 witnesses and a audio recorder with you every time you make a cash loan payment.
2. If you are not allowed to pay by cash, go out and find yourself a good attorney, and a paralegal that is not associated with the attorney. The paralegal is there as a second opinion.
3. Find the laws in the UCC that state that if someone will not accept your legal tender payment on a debt, the debt is legally considered paid in full.
4. Dig out the court cases that back up the laws.
The expense of the attorney and paralegal will easily be covered by the paid-off loan amount, and/or by the bank in the judgment when they lose in court.
