Naked Capitalism Calls Out Evils of Chase

In a scathing (yet well-founded) post that describes the bank’s actions as “evil”, Naked Capitalism shares the stories of two families whose lives were badly derailed by manipulation of their mortgages and the absolute refusal of the bank to do the right thing after their mortgages have been paid off.

We often hear the argument that homeowners are responsible for their own problems with the banks, that while bank behavior might be less than perfect these homeowners wouldn’t be in hot water if they hadn’t taken on mortgages they couldn’t afford and then fallen behind in their payments. These two cases (and the many others out there like them) clearly demonstrate that little things like managing your mortgage responsibly and paying it off don’t make the slightest bit of difference in the treatment you receive from banks like Chase, nor in the difficulties they can inject into your life.

The homeowners whose stories are told in the post are represented by Boot Campers DL “Bubba” Grimsley and Earl Underwood.