Is OneWest America’s Meanest Bank?
Banks are not philanthropic operations, but OneWest Bank, the recipient of $814.2 million in federal bailout funds, has managed to distinguish itself as particularly ruthless when it comes to foreclosures. In Long Island, New York, a local judge excoriated OneWest just before Thanksgiving for trying to kick out Diane Yano-Horoski and Greg Horoski from their East Patchogue home. OneWest had refused to let the Horoskis restructure their loan after their adjustable rate rose to above 12%. Suffolk Judge Jeffrey Spinner erased the couple’s mortgage ($525,000), leaving them free and clear of the California-based bank. Spinner labeled OneWest’s actions “harsh, repugnant, shocking and repulsive,” while Greg Horoski said that dealing with OneWest was “like dealing with organized crime.”
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