BB&T Bullshit | One Day Late with Mortgage Payment, Gas Station Owner Could Lose Business to Foreclosure

4closureFraud's picture

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technicalanarchy's picture

BB&T fired my aunt off 30 days before her retirement. Real gems they are. 

DavidC's picture

My letter, as sent to BB&T

Dear Ms Williams,
I feel moved to write to you after reading this article on ZeroHedge, a financial (and related) Internet site, link below.

I note that one of BB&T's Integrity philosophies is as follows;
“Because we have developed our principles logically, based on reality, we will always act consistently with our principles. Regardless of the short-term benefits, acting inconsistently with our principles is to our long-term detriment. We do not, therefore, believe in compromising our principles in any situation. Principles provide carefully thought-out concepts which will lead to our long-term success and happiness. Violating our principles will always lead to failure. BB&T is an organization of the highest integrity.”

I realise that you may not be able to answer as a result of the case being active, but I have the following questions;

1 - Why has BB&T refused to accept a) Mr Mathew's first payment, which was ONE day late and b) subsequent payments, which have been on time?

2 - Why has BB&T decided that foreclosure is the best option, on a business that is, presumably, doing well, since Mr Mathew has the money available and has consistently tried to pay it to BB&T, ONLY FOR BB&T to refuse said payments?

3 - Mr Mathew has, by my understanding, made the monies available for payment, but BB&T has refused to accept them. Why would any bank, in its right mind, refuse payments, where its contract, presumably, requires the other party to pay them?

4 - BB&T has shown a complete lack of integrity going for its course of action, foreclosure over payment, where the payment is there and available to be paid (albeit the first one, on the basis of the article, was ONE day overdue). As you've violated your principles, do you not think you have failed?

I realise that I may not have the 'whole story', but when the Circuit Judge Amy Williams said, IN COURT(!) "All the people that understand anything about mortgage foreclosures need to know this stuff, This is the idiocrasy of this stuff. This is why we're in a worldwide financial crisis because there's no business sense any more in the foreclosure industry, none. And it blows my mind. Totally blows my mind.'', it strikes me there is something seriously amiss in your actions, even, one might posit, an insanity to them.

I don't expect a reply as I am nobody important and I live in the UK, however this should show you how far the story of your actions is traveling.


harlanaladd's picture

Much to my surprise, I received a reply to my very irate email.  From Ms. Cynthia Williams Executive Vice President herself. She regrets not being able to discuss details with me (client confidentiality, don't you know) but she's glad the outcome was positive for Mr. Mathew.  (Bullshit she's sorry.)

And I'm sure the massively bad press and threats of an institutional shit-rain had nothing to do with their prompt response one day after the story appeared on ZH. Just a coincidence. 


ChewButta's picture


A bit good news on this...

UPDATE: BB&T, the North Carolina-based bank, said this afternoon it will suspend the foreclosure action on a St. Petersburg gas station whose owners missed a mortgage payment by one day.

More details here:

Howling in Saint Petersburg,



MrSteve's picture

This case illustrates why you should write your own checks and not do automatic withdrawls. If the lender insists on automatic withdrawls, you need to be on top of the transfers like a duck on a june bug. Any trip of a penalty clause in a contract with a bank is their cue to screw you. Belts and suspenders are the minimum level of vigilance. You can not make a mistake in this environment. This case shows why. Small business owners need to be extra cautious.

Downtoolong's picture

This one’s easy. It’s a gas station.

Stop paying the mortgage, cancel all your insurance, take all your profits and other equity and convert it to gold, then on the day of the foreclosure, one flick of a cigarette lighter settles it fair and square.

CoolBeans's picture

Thanks New Chunga!

A good read!  JPMC thinks it owns everything! 

Foreclosure Hamlet is a good site.  Thanks again for bringing this one to our attention!


pods's picture

Thanks for the post.  It just made my decision to move my FSA from BB&T to my local credit union.

I will reference this story and will also email all co-workers who also use these mobsters for their FSAs.


Vendetta's picture

Imagine banks wanting property that has actual value versus their script.

Careless Whisper's picture

May I suggest a protest outside one of their branches? Perhaps one that caters to mega accounts. Here's a branch in Palm Beach:

Don't forget to bring props. That's how we do it downtown. Believe me, it works.



mkkby's picture

Not that I would suggest this... but if each angry person torched one bank branch, they'd be gone in one day.  Community cleaning.

turbomango's picture

UN's socialist Agenda 21 is no civil rights for humans and thus no right to own. Rent only and communal urban corporate-built apartment stacks. They are working toward this slowly so the frogs don't notice. Look it up.

turbomango's picture

Whatever happened to his contract? By law, depending on lender agreement, there is a 7 to 10 grace period!

Waterfallsparkles's picture

In addition.  Many do not know that if your automatic withdraw gets bounced, the Bank will not try to automatically withdraw the money again.  You then have to send them a check with the late charges.

Another thing most people do not know is that once you miss a payment many Banks will call a default and not accept any future money unless you pay everything that is due.  If you continue to send checks for the payment and not include all past due balances, they may keep your checks and not cash them or they may cash your check, put it into a suspense account and not apply it to the Mortgage or the amount due.

bbq on whitehouse lawn's picture

Loan sharks are easier to deal with. Hell the mob takes late payments, and your car as intrest. But they take late payments.

Waterfallsparkles's picture

I had an automatic withdraw for my car payment with BBT.  Everything was fine for every payment for my car.  They automatically withdrew every single month.  Then on the very last month of the loan they did not automatically withdraw the payment.  I checked my Checking Account on line all the time to monitor what is going on.  I also watch the amortization schedule for my payments, so I know when the last payment is made and I own the car outright. When I noticed that the last payment was not withdrawn I called BBT. They said that they do not automatically withdraw the last payment.  I did make sure the payment was made to fully pay off my car. 

Yet, it bothered me that some people would think that they had payed off the loan and would not have noticed.  It would have been a real shame for BBT to take my car for a one month car payment that they did not withdraw on the authorized auto withdraw. Many would not have even noticed until their car was towed by the repossession people.

MachoMan's picture

As our society becomes more and more complex, it simply weeds out larger and larger segments of the population...  not based upon anything I consider particularly meritorious or virtuous...  but more or less just by the ability to juggle a bunch of shit and multitask mundane issues.

chunga's picture

Dig this baby...

JPMorgan Attempts Takeover of FDIC? goes to a blog. Foreclosure Hamlet doesn't get paid by the click. Advertising is strictly forbidden.

chunga's picture

Ha! They are squealing about this on Yahoo Finance


jkruffin's picture

See, this happens because people let it happen, I would burn that biotch to the ground before I let the bank pull a crooked scam on me.....

bbq on whitehouse lawn's picture

They want the location not the bussiness. Its the land and location that has value. So burn it to the ground that doesnt change the value on the property.

New World Chaos's picture

A toxic waste problem due to holes drilled in the bottom of the storage tanks would change the value of the property.  According to federal law, the owner of the property is responsible for cleanup costs even if a previous owner made the mess.  You can actually make the value of your property NEGATIVE!  This was originally designed to stop mining companies from playing various shell company games but it would work well in this case, or in cases of theft by eminent domain.  You will have time to poison your land and prepare your bug-out place.  Right after Chase, Walmart, etc. legally steals your property, you tell the local council what you did, take out an ad in the real estate section saying what you did, tell local title search companies what you did, tell the EPA what you did, etc.  Get different tentacles of the Beast to fight each other while you disappear, laughing. 

MachoMan's picture

Virtually all states have underground storage tank trust funds...  basically, you pay the insurance premium and the clean up is on the fund...  and, if any wrong doing is involved, the state will go after the alleged perps.  I wouldn't recommend this route (and that's just the civil side).

Marty Rothbard's picture

I am surprised at this.   I'm from NC where BB&T originated.  I've always been told by BB&T customers, that it was a good bank.  This goes back 30 years.   This is the sort of crap I'd expect from BOA or Walkoverya.  I've even recommended BB&T to people who were looking for a bank (I use credit unions instead).  Maybe it's just that it's in Florida.

Careless Whisper's picture

or maybe you can't recognize a criminal when you see one?

Chuck Walla's picture

Criminals in nice suits are harder to recognize!

sun tzu's picture

Now I know who never to do business with

CoolBeans's picture

This was quite a story - this poor fellow.

I've personally had some crazy stuff happen w/our mortgage which caused me to start poking around.  I'm kind of a "geek" when it comes to liking certain puzzles.

Some of the things I found were really, truly scary:

The trust my mortgage was supposedly put in filed SEC filings in 2007 up until first quarter 2008...and each filing indicated the trust was formed in DE, with HSBC as trustee.  Trustee was charged w/filing assignements (not done) and well as usual trustee duties.

Three searches by three different parties show that the entity was never formed in DE.  Now, I've just learned that the Attorneys General in NY and DE are researching these trusts.  So, contacted the DE AG's Office and requested they look into this particular trust (if they aren't already).

So, if I understand this correctly - I have a ficticious entity that owns my mortgage and a trustee that never filed the proper assignment paperwork. 

The cherry on this:  This trust is one of a few named in more than one massive lawsuit (including National Credit Union group as trustee for some of the credit unions that invested in the trust).  One of the charges is not adhering to stated underwriting standards, fraud, etc.

OK, so digging further with a Qualified Written Request, I saw some really fun documents that I never signed (limited paperwork was returned) - nor would I sign such tripe.  A few documents - the supposed "original signature" is cut off on the bottom (each letter is missing a bottom)...pretty sad copy & paste of a signature.  Additionally:  An income verification via "interview" and signed by a bankster rep as "XXXXX" (yes, signature is all X's) - it stated I had a pretty spectacular net worth and some heatlhy monthly rental income.  Wow, if only my real life was ever that fabulous!! 

Add to this steaming pile o' sh*t, there are titles companies that have refused to insure any title that was involved in a Chase (and I believe a few other co's) securitizations. 

Banksters have committed countless violations on multiple levels and they'll walk away from it all w/some large monetary penalities (petty cash) and no one will go to jail.  We'll all be left to pick up the pieces because they have so many policitians in their pockets (include the Teleprompter and Chief). 

I'm pleased to see a few of the judges are finally "getting it".

Keep fighting. 



cynicalskeptic's picture

A friend's father died three months back.  They are the executor.  Told the bank he died, asked that address for the mortgagge account on his house be changed since they would be making payments until estate was settled.

Bank told then 'no problem'.  

After NOT getting anything for the following months, they found out the bank screwed up the address change.  Thank God the small town the house was in had a reasonable Post Office that held the 'undeliverable' mail (corect street address - same old but incorrect town)- recognizing the name.  In the pile was a foreclosure notice.

The executor called the bank, reiterated that their father was DEAD and treid to resolve the problem.  The bank rep said they could ONLY talk to the house owner, the father (who as noted was DEAD).

It too a week - AND some serious Lawyer involvement - to get the bank to fix the problem.


Such stupidity DESERVES to go out of business - NOT be bailed out.

DavosSherman's picture

"Such stupidity DESERVES to go out of business - NOT be bailed out."

+1, In fact, such stupidity qualifies morons like that to be in Congress, the Senate and the White House.

MachoMan's picture

Why the fuck would you presume it's stupidity?  Was there any net equity in the house?  If so, it was strategy...  In the prison world, don't drop the soap.  And, for anyone else that might have this issue, there is a reason certified mail and return receipts exist...

Further, part of the problem is ridiculous legislation...  given various privacy acts, et al, the peons in charge of handling these types of things have been given a memo from in house counsel...  which basically diplomatically states "you twonks are fucking retarded, do not give out any information to anyone no matter what"...  in other words, risk aversion. 

You just gotta know how to deal with them...  certain ways are SURE to waste your time...  (and get gatekeepers pissed off at you...  NEVER DO THIS WITH GOVERNMENT OFFICIALS ESPECIALLY).  It's kind of like tech support...  NEVER TALK TO TIER 1...  all they know how to do is ask you whether you unplugged your modem and rebooted your computer...  If you really need help, go up the chain.  While I realize in a perfect world this shouldn't be necessary, it's our reality and likely only going to get more perverse.

Stuck on Zero's picture

The bank wants to foreclose because they sold the mortgage seven times over and need to get it off the books before that little fact is discovered. 

OS2010's picture

SoZ, you just described a situation that we were intimately involved with a decade ago, when the banks discovered this newly-found power to take properties away to sell at a higher price.

gwar5's picture



It's easy to understand why people hated the banks in the 1930's and rooted for Bonnie and Clyde.

DavosSherman's picture




MachoMan's picture

This seems like a good case to impose the ever present, but seldom acknowledged, duty of good faith and fair dealing implied in every contract.  Dust that bitch off and start slapping people with it.


bbq on whitehouse lawn's picture

LOL good luck dusting that old bitch off. If you can find a 70 year old judge your welcome to try.

MachoMan's picture

Not really...  Depending on what depositions discover, I'd say it may be motion for summary judgment material.  Practically, all it means is that the other party to a contract cannot do anything to hinder or delay your performance... It's not any older than the rest of the common law and I don't think you've got to roll out moses to the bench to get a receptive audience.  I'd ballpark it at about 1/15 breach of contract cases that come across my desk make allegations rearding the duty of good faith and fair dealing...  probably just behind "civil conspiracy" (whatever the fuck that is) in frequency of use in breach of contract cases...