After losing her job, Gigi Bridges applied for a mortgage modification with Chase Bank. Gigi entered into a trial modification and paid her payments for 12 months. On the 13th month her check was returned to her. Chase sent her a permanent modification with a payment that was doubled. Gigi pointed out to Chase that they made a mistake on her financial documents by miscalculating her income and giving her an unaffordable payment. Chase’s answer was foreclosure.
On March 6, 2012 Gigi’s home was sold at auction and now Chase is trying to evict her even though she has proven time and again that her income was calculated wrong. Gigi’s home should never have been sold at auction. But CEO Jamie Dimon has been quoted as saying “Giving debt relief to people that really need it, that’s what foreclosure is.”
Please sign this petition and send a message to Chase Bank – the only fair thing to do is stop the eviction and rescind Gigi Bridges’ foreclosure!
We’re tired of watching banks destroy homeowners lives. It’s bad enough to be a homeowner who may have lost a job or is struggling with a health issue. We’ve all seen how banks take advantage of homeowners when they are the most vulnerable. We’ve created a petition and we’re aiming it at the top!
Collectively we can band together, stop the madness and force banks to do what’s right for homeowners. Help spread the word by sharing this petition with friends and family.
Martin Luther King Jr. once said: Our lives begin to end the day we become silent about the things that matter. It’s time for homeowners to stop being silent and stand up for their rights.
SAVE OUR HOMES RALLY
Wells Fargo Bank, 945 S State Highway 65 (Map)
Lincoln, CA 95648
Thursday, March 15th, 10:00 AM
We are still working to have Rachel’s wrongful foreclosure rescinded. Several weeks ago Wells Fargo stopped eviction activity and informed us Rachel must complete a trial modification before rescinding the foreclosure. However, to date, Rachel has not received the trial modification documents. Add your name to Rachel’s Change.org petition here.
This is an article from 2009 that explains why banks keep homeowners in seemingly never ending trial modifications. This is what happened to Susan Leonard and Michele Varney who were both granted trial modifications with Bank of America.
But industry insiders and legal experts say the limited capacity of mortgage companies is not the primary factor impeding the government’s $75 billion program to prevent foreclosures. Instead, it is that many mortgage companies are reluctant to give strapped homeowners a break because the companies collect lucrative fees on delinquent loans.
Even when borrowers stop paying, mortgage companies that service the loans collect fees out of the proceeds when homes are ultimately sold in foreclosure. So the longer borrowers remain delinquent, the greater the opportunities for these mortgage companies to extract revenue — fees for insurance, appraisals, title searches and legal services.
“It frustrates me when I see the government looking to the servicer for the solution, because it will never ever happen,” said Margery Golant, a Florida lawyer who defends homeowners against foreclosure and who worked in the law department of a major mortgage company, Ocwen Financial. “I don’t think they’re motivated to do modifications at all. They keep hitting the loan all the way through for junk fees. It’s a license to do whatever they want.”
We’ve started a petition for Susan Leonard because she is an excellent example of how banks put homeowners in more jeopardy.We hear different variations of Susan’s story every day.
Susan had surgery, missed time at work which reduced her income. Following her illness she was laid off from her job. She was able to find another job, but the pay is lower which reduced her income significantly. Susan applied for a Homes Affordable Modification with Bank of America and was approved for a trial modification. She was told if she made the three trial payments on time she would be considered for a permanent loan modification.
After completing the trial plan Susan inquired with Bank of America and was told that she was approved for the permanent modification, but because the program was so popular they were having a difficult time getting the permanent loan modification packages out to homeowners. Susan was told to continue to make the trial payment amount each month. Bank of America deceived and mislead Susan into believing she had been approved for a permanent modification for 25 months! She made her 26th payment, but Bank of America sent it back to her and told Susan her home was in foreclosure. On December 21, 2011 her home was sold at auction.
Susan has a very modest home with a $88,000 mortgage. She is a hard working American who wants to pay her mortgage. But Susan’s mortgage had PMI – that’s mortgage insurance. Bank of America would much rather collect on the mortgage insurance policy than work with Susan to keep her in her home. Bank of America put Susan in more jeopardy by leading her to believe that the 26 month trial modification would lead to a permanent modification and then later demanding the arrears. With a reduced income and the belief that she would be paying the new modified payment for the life of the loan, she could not possibly pay the past due amount that Bank of America claimed she owed. Bank of America set her up to fail!
Unfortunately, Susan’s story is not unique.This is happening to homeowners across the country. It’s by far the most common story HSITrust hears from homeowners.
Join us in demanding that Bank of America rescind this wrongful foreclosure and discontinue unfair and deceptive practices against homeowners. Please sign our petition for Susan Leonard.
Help us create change!
Petition: Bank of America President and CEO Brian T. Moynihan: Rescind Susan Leonard’s Foreclosure | Change.org
Bank of America offered Susan Leonard of Northern Michigan a HAMP trial loan modification in 2009. After completing her trial payments on time, Susan was told by Bank of America that she would be receiving permanent loan modification documents. Those documents never arrived and after making 25 payments on time, Bank of America sent the 26th payment back to her and proceeded with foreclosure. Susan’s home was auctioned on December 21, 2011.
Unfortunately this type of unfair and deceptive behavior is all too common. HSITrust hears stories similar to Susan’s every day. Please join us in demanding that Bank of America rescind Susan’s foreclosure and prevent this from happening to other homeowners!
Please use the link below to sign and share this petition with friends and family and help us reverse this wrongful foreclosure.
Please stand with Rachel Kendall and other homeowners who have been victims of unfair and deceptive foreclosure practices! Sign our petition with Change.org.