In 2005 I was encouraged by my realtor to talk to a local bank who was looking for business. I was in troduced to the manager, a Mr Gilbreath (call me Roger!), who seemd overly anxious to become both my banker and a friend.
Soon after I was offered a mortgage with the bank for a property in Colfax IA. I had just suffered an industrial related accident which severely damaged my sight. I attempted to persist with my payments from my meagre savings and was congratulated for my 'greatly appreciated' efforts. Within a year, I lost my sight completely and had to relocate overseas for specialised surgery. It took two years to regain 75% of my sight and in that time, I fell behind with my payments.
The ever wishing to be helpful Mt Gilbreath encouraged me, through my attorney, to sign a 'Deed In Lieu Of Foreclosure'. Around the same time he informed a colleague of mine that everything 'would be fine' as the Bank would collect insurance that I was paying for. So they would not be out of pocket as long as they sold the property soon. My co-operation was needed to ensure that would happen.in an e-mail to my attorney, we were assured this would satisfy the bank and there would be no further claim upon me. My attorney recommended the peocedure, so I dutifully signed over the property to the bank.
I purchased a small property in 2009 and when I applied for a small mortgage, I discovered my credit reports were trashed by the entry from the Bank of Iowa on my credit reports. I had to take private mortgage finance at several points above the going rate.interestingly, this matter occurred during yet the Bank Of Iowa did not enter this information on my credit file until 2008!!
I visited the bank and Mr Gilbreath, who was still persisting with his usual enthusiastic welcomes. His tone changed when I informed him of my plight and he pretended to be unaware of the circumstances. He promised to look into it. As I informed him, the Bank of iowa placed the note on my credit report, so the bank could take it off! After all, the bank had recovered every penny thanks to my insurance...
Nothinhg eventuated and enquiries to the credit report custodians confirmed the entries were by the Bank of Iowa. Although the amount owing on these reports is zero, the entry has caused terminal and irreparable damage. I am 61 years of age and don't have the time left to benefit from time passing.
You need an attorney to do any business with this Bank of Iowa. Their subterfuge, misrepresentation and deceit awaits anyopne and everyone.
This bank is the personification of the old adage that 'a bank will lend you an umbrella, but ask for it to be returned at the first sign of rain'
And should you not heed this warning and shake hands with Mr Gilbreath, I can't explain why you will feel a sudden urge to wash your hands thoroughly.
Wiser But Poorer Ex Custome
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