When Wachovia closed its bank branch in Shoemakersville, PA, last month, a spokesperson made it sound like it was part of a normal review of locations. Local newspaper the Reading Eagle, however, found out that the bank lost the branch last September in a tax sale, when a local company bought the building for only $16,900.
Berks County Recorder of Deeds Frederick C. Sheeler doesn’t understand why the bank didn’t protect the Shoemakersville site from tax sale.
“I found it to be incredible that the bank can let property worth a couple of hundred thousand dollars just go up from under them and not preserve the assets of the account holders, the stockholders and the money the government put into Wells Fargo,” Sheeler said.
The tax collector for the county told the paper that she was surprised Wachovia ever let it go so far: “They (the notices) basically threaten them that if they don’t pay, eventually your property could be sold. People usually pay attention.”
“Tax woes spurred closing of Shoemakersville bank” [Reading Eagle] (Thanks to Ed!)
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