Much more to come on this one, but for now the foundation of the story…

One Day Late with Mortgage Payment, Gas Station Owner Could Lose Business to Foreclosure

ST. PETERSBURG — Saji Mathew missed the Oct. 12 mortgage payment on the Mobil gas station he co-owns.

On Oct. 13, he took the money to the bank, thinking that would make things right.

He tried to make his November and December payments as well. But each time, BB&T kicked back his money.

Ten months later, Mathew is still trying to pay. In circuit court on Tuesday, he offered BB&T $50,000, the total amount due since October.

BB&T didn’t want the money.

It wants the gas station.

“They won’t take my money,” said Mathew. “I want them to take it. I was one day behind paying the mortgage.”

BB&T’s stance flabbergasted the judge in the case.

“All the people that understand anything about mortgage foreclosures need to know this stuff,” Circuit Judge Amy Williams said in court. “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.”

Check out the rest here…

Cynthia Williams
Executive Vice President
Chief Corporate Communications Officer
e-mail: cynthia.williams@BBandT.com

phone: (336) 733-1478
fax: (336) 733-1476

Oh, and this is from their “Philosophy” under “Integrity”…

“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.”

Light ‘em up folks….

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