I don’t know him personally. I’ve never met or spoken with Patrick Rodgers of Philadelphia, but he is my new hero.
Online reports tell the story of Patrick’s battle against his mortgage company, Wells Fargo.
The bank demanded Mr. Rodgers purchase a homeowner’s insurance policy with a replacement value of $1 million dollars on a home for which he paid $180,000. The resulting disagreement led Wells Fargo to issue “forced placement” insurance, adding about $500 per month to his mortgage payment.
When Rodgers’ letters to the bank were ignored, he sued under the Real Estate Settlement Procedures Act and won a default judgment against Wells Fargo for $1,000.
The bank didn’t pay, so Rodgers went to the Philadelphia sheriff’s office for collection. Foreclosure proceedings are currently scheduled to conclude with a sheriff’s sale of all contents of the Wells Fargo branch on N. Delaware Avenue on March 4th.
Turnabout is indeed fair play.
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