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© Jonathan Alcorn / Reuters / REUTERS
Ana Casas Wilson, who has cerebral palsy, sits in the living room of her South Gate, Calif. in December 2011. Wells Fargo has completed foreclosure on the home and eviction could be imminent, but Wilson refuses to leave, and argues that the foreclosure was unecessary.
A woman engaged in a bitter battle with Wells Fargo over foreclosure of her southern California home was arrested late Thursday at the tony residence of the bank's CFO in San Marino, where she and dozens of supporters were protesting.
Ana Casas Wilson, 49, who lives in the working-class neighborhood of South Gate, faces eviction from her childhood home. Like many people who have been through foreclosure, she says that the bank wrongly denied her a loan modification and moved to foreclose even when she was able to catch up.
In an action that is becoming increasingly common, Wilson has taken her complaint public and her protest directly to bank officials. In Thursday’s protest, with at least 80 supporters, she attempted to deliver her mortgage payment directly to Tim Sloan, the top financial officer for Wells Fargo. In addition to protesting the foreclosure, the group was challenging an ordinance created last year making it harder to picket in this wealthy enclave.
"People are deciding to take this stand that was previously a little unthinkable," said Peter Kuhns, with the Alliance of Californians for Community Empowerment, which helped organize this and other "home defense" actions. "They are risking arrest, refusing to leave, getting their families involved and putting themselves out there."
Many people are shedding the sense of shame of foreclosure, which kept most people silent in the past, even if they didn’t think they had done anything wrong, he said.
"More and more people are standing up and willing to go public because there is no other remedy and putting public pressure on the bank," said Kuhns.
Wells Fargo did not respond directly to Wilson's situation, but provided a statement in response to queries about her.
"Wells Fargo works very hard to keep customers in their homes whenever possible," said the statement, sent by Jennifer Langan in corporate communications. "We review our customers for a variety of modification options, from HAMP, HARP, HAFA and through our own proprietary programs. Despite these efforts, if a customer is 16 or more months delinquent, it can be extremely difficult to recover."
Some homeowners who have taken this high-profile approach in their fight against foreclosure, enlisting the support of protesters from the Occupy movement and housing activists, are finding success at it.
Occupy movement targets Wells Fargo shareholder meeting
The case of Rose Gudiel, reported by msnbc.com last year, is one example. In October, Gudiel was hunkered down in her home, surrounded by supporters, awaiting eviction. But at the eleventh hour, lender Fanny Mae canceled the eviction notice and offered her a loan modification, enabling her to keep the home.
Peter Kuhns, ACCE
Ana Casas Wilson, sitting, and supporter Rose Gudiel demonstrating in front of the home of Wells Fargo CFO Tim Sloand on Thursday.
Many similar foreclosure battles are under way nationwide, with support from a movement called Occupy our Homes.
Wilson, who has cerebral palsy, lives with her husband, who works as a school janitor, her teen son and her mother, who helps care for her. She has worked as a court reporter, and as an advocate for the disabled.
The trouble covering the mortgage started when she was treated for breast cancer in 2009, and her husband’s income declined as a result of cutting hours to help take care of her. They got behind, but their income stabilized several months later. By then, the bank had moved into foreclosure proceedings and would not accept her payments or discuss ways to catch up, Kuhns said.
The implication in Wells Fargo's statement that Wilson was 16 months behind is misleading, says Kuhns, because for most of that time, the bank refused to take her payments.
Thursday’s protest was on Wilson’s behalf, and it was more generally challenging a San Marino ordinance adopted last November – just a few weeks after a protest of predatory lending practices on Sloan’s front lawn. That demonstration, involving about 100 protesters, was peaceful and ended without incident, the Los Angeles Times reported.
Under the statute, picketers must keep 150 feet from a target residence, or 75 feet from the curb adjacent to the home, whichever is farther.
"The purpose of the ordinance is not to reduce picketing, but to protect the people who are the victims of picketing," police Chief John Schaefer told the Times when it was passed. "We're a prime target. We have a lot of people who fit the profile to be the victim of this type of crime."
Video from the protest posted by the San Gabriel Valley Tribune shows protesters carrying signs and chanting "Wells Fargo, shame on you!" in the street in front of the home.
Wilson is shown crossing a police cordon in her wheelchair to deliver a check to Sloan. She knocks several times, but gets no answer.
"He's embarrassed," Wilson tells the Tribune. "That's why he won't come out. ... He knows that what they are doing is wrong."
Wilson was arrested under the anti-picketing statute, after protesters and police faced off for about two hours. She was released about an hour later and is expected to appear in court in early June.
"The leaders of Wells Fargo and the members of their family should be afforded the right to feel safe in their private residence and we encourage all organizations choosing to demonstrate at private residences to abide by the law for the safety of the general public," the Wells Fargo statement said.
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The tactic by banks to refuse to accept late payments started I believe in the early 2000's. I recall speaking with a co-worker who fell behind because of illness and she said even though she was able to raise the money to bring her mortgage current, she was turned away and eventually lost her home. Most people don't know that there are regulations that will force the bank to take your money, but you have to say the right words which are regulated by law. People who fall behind in their payments should immediately seek legal help before the banks start turning their wheels to force you out of your home. Why do they do it? Its their way of sending a message to other homeowners that this is how you will end up if you fall behind in your mortgage payments. Its a tactic, not an instrument of necessity.
We need Laws to protect the people and less protecting the Corporations who seem to hold a record doing this type of thing.
But the US Supreme Court has ruled that corporations are people too!
Please take action to help the Wilson Family by signing petition on Care2 titled "Tell Wells Fargo: Let Woman with Cerebal Palsy Keep Her Home!"
If this was her childhood home and she is 49 years old, why isn't the house paid for by now!!!!!!!!!!!
Skibunny, she could have assumed the mortgage from her parents...the house may have required a second mortgage to bring the inside up to code. You don't know the real story and neither do the rest of us, so we shouldn't judge.
I know that Wells Fargo is a horrible bank. One of my coworkers used to bank with them and had to wait 9 days before she could use the funds from her direct deposit paycheck.
The American dream is now DOA, nobody's future is secure anymore thanks to predatory banking practices and corporate greed. Corporations get twice as much corporate welfare as all the recipients of social welfare programs get and they call anyone down on their luck a lazy bum.
Used to be if you worked hard, lived a decent life, you could make a living wage and provide enough for the wife to stay at home if she chose and give a couple of kids everything they needed. I'm afraid stories like this are going to just be more common in the future. Now that corporations OWN our Congress, and prisons are becoming corporations, the average Joe or Jolene doesn't stand a chance to have any legal recourse whatsoever.
Paid for mine in 5 years - what's everyone else's problem - get jobs and don't spend it on things you don't need. Quit trying to blame others!!!!!!!!!!!!
I am a lawyer who at one point had at least 20 clients trying to modify existing loans, including loans with Wells Fargo. And I am embarrassed to say that I had to give up on most of them because the banks were impossible to work with. Laborious paperwork was shuffled between departments and just when you thought you were getting somewhere they would send any proposals out to the "owners" of the debt, which started navigation of another impossible labyrinth.
It is true that the banks and our government have completely screwed homeowners. I have been a strong Obama supporters but his incestuous relationship with banks at the expense of ordinary Americans has gone a long way to erode my confidence in him.
What incestuous relationship? You mean the relationship that he has developed by trying to regulate them even while being blocked at every turn by the banks lap dog Republicans?
You mean the incestuous relationship where the banks are spending hundreds of millions to get Mittens and the ' party of bank bailouts' and deregulation elected?
If you think Mittens and the Republican party would do anything agaist these 'job creator' banks and the bonus for failure CEOS who run them you are out of your mind.
well stated
Mark, please you are looking very stupid. Do some research on what caused the housing and financial crisis and you will find it will take you to Democrats not Republicans; hint Barney Frank and Chris Dodd.
Actually the reasons were that Fannie and Freddie were frozen for a period of time by the supreme court due to a scandal. Home loan businesses were given free reign in finding other sources to attain capital for loans, so they went to the only source that had massive amounts of lending capital at the time. Wall Street. Of course seeing as Wall Street is known for taking as much risk as they can get away with, they found new and lets say..., more aggressive ways in making themselves money in return? Bundling up mortgages and selling them as investments. They mixed stable loans with Sub-primes and achieved triple AAA ratings. Wala!!! they could sell them to investors, and made a killing. They were more than pleased to due business with Quick Loans and Countrywide because each sale was money in their pockets. Of course until the house of cards collapsed.
Few: I say you don't know what you are talking about. It was much more the anti-regulation Republicans who are more to blame. Maybe you shouldn't be so critical when you don't really know what you are talking about.
I think everyone has a valid point but the administration could have done a lot more for homeowners. How about for starters: OK, we are going to bail you out but in turn -you must follow a clearly laid out, consumer friendly process to help homeowners hold on their houses. Obviously, nothing along those lines happened!
Bush bailed out the banks. Obama bailed out the auto industry.
HALO Jumper, you are right. No one is entitled to a loan modification but when people get into trouble and they need help, they need it plain and simple. You are talking about this woman making excuses, maybe these are just the facts. I wonder if you are a person with substantial or limited financial means. When you sign a mortgage agreement you are signing it for 15 to 30 years. Do you mean to tell me that you know exactly what is going to happen in your life every step of the way for that length of time? Has no one in your entire life has ever managed to mislead you? I am sure when some people sign they know exactly what they are getting into but that does not hold true for everyone, not even for most. The way these companies fast talk enticing everyone with lies and half truths then put all the undesirable facts into fine print on the documents that you sign you'd almost have to retain a lawyer before signing anything. Can you afford to do that, I know that I can't.
Ok so what ever the reasons another foreclosure is just want the bank needs lets be real here. Someone in my family was foreclosed on for similar reason, sever illness and even death to one person. So they foreclosed and put the family out no deals no lets try to work this out. That was almost 3 yrs ago and guess what, the house is still empty. You would think it would be better to get payments and keep a disabled family in their home they worked so hard for, but no they would rather have it empty for three years and counting. Its a great home in good conditions but not selling. So the family is now renting someplace else and paying as much as the mortgage on their house was. This is a no win situation for everyone. America spends more money on other countries and useless issues rather than help their own.
My daughter put in an offer on a short sale house in Columbus, Ohio.
The seller accepted the offer, and the real estate agent was supposed to deliver the offer for the bank's approval. On a Saturday the real estate agent called my daughter and told her the bank had rejected her offer. So she asked the real estate agent how much the bank would accept, and he told her the amount. She counter offered $3,000 less than he said the bank would accept. The real estate agent rejected the offer and showed the house that afternoon.
Except the house never sold. The real estate agent had never shown my daughter's counter offer to the bank, he had rejected it because he thought he had another buyer, and wouldn't have to split the commission with my daughter's real estate agent. We know the bank was shown the original offer, because my daughter asked them.
Oh my, did the sparks fly. My daughter was so mad, she wouldn't make another offer, and the house sits empty to this day, 9 months later.
The games people play to make more money.....
CPO
NEVER make an offer on any short sale house. It is nothing but a nightmare. The banks want those homes to go to forclosure so they can sell them to foreign investors in bulk. Only make offers on new or privately owned homes. I have learned this lesson the hard way.
its to bad that this comment is unrelated but relevent. white america in their attempts to excluded others from the american dream have set rules in place that have contributed to white americans losing their place. karma is a motherfocker and turnabout is fair play you live and learn as wise ones once told me.
It has nothing to do with race genius.
If you think blacks would run things differently just look at Somalia and the rest of Africa. Thousands starving and a tiny 1% living like kings. That may be what the Republicans and the Banks are trying to do to America but we are not there YET. I has nothing to do with race, it is the same old greedy vs everyone else.
Try moving to Sudan and after they sell you as a slave to the Muslims let us know how badly you think white people treat blacks. Those same white people who voted for a black president.
In which world do you live?
Bow down to the almighty profit, wells fargo is just trying to make their profit margin a little bigger, the CEO needs a bigger boat and that lady with cerebral palsy is standing, er I mean sitting in her wheelchair, in his way.
Look folks, The banks could give a $&!t about you me or anyone else. Its about profit and nothing else. You keep voting for the GOP and it will just get worse. Obama may not be perfect but he at least understands that predatory practices of todays corporations are not helping us. It IS possible for corporations to make a profit without being predatory. It IS possible for the large tax breaks given to large corporations to be downsized or eliminated. It IS possible for the wealthy to pay the same percentage of taxes as people like you and me.
and all this talk by the GOP about taking away the rights of women is B#ll$h!t, no one is going to make my daughter a second class citizen. At least not with my vote.
Obama/Biden 2012
Thanks for you post, Tom. You are right, Obama isn't perfect, but he hasn't even been allowed to pass anything that would help the average American thanks to GOP obstructionism...and don't even get me started on the party of personal liberties and freedom's obsession of what happens inside my uterus and my bedroom.
Obama has proposed this legislation for the exact reasons you have stated, however, the Rethugs spin it is job-killing legislation and what a hostile business environment and class warfare Obama has created. Their idiot Sheeple followers lap up the pap they get fed from the GOP and Faux Noise like it's manna from heaven.
The GOP, keeping millions out of work to put one man out of a job.
England is now in a double dip recession because of the austerity program they enacted. The old belief that you gotta spend money to make money is true today more so now than ever. All they want is to have the economy slow down so they can say "SEE I TOLD YOU". If this country goes down the tubes it will be because of them. I have a simple solution to all of this, every working person should stay home for 3 days, no work, no purchasing anything, no nothing. I wonder if we have the wear with all to do that. That would show Washington that we the people are pissed, if they have the sense to see it is another matter. Please do not go on about the electricity, first responders and such, I know!!
To lemer lady--Did you see the sign one woman in Virginia made? It read "If I wanted government in my vagina I'd F ? ? k a senator".
Wells Fargo is made up of corrupt, self-serving individuals who are exploiting their ability to virtually steal from their customers, legally. My husband and I applied for a loan modification because I lost my job, (imagagine tht?), resulting in a drop in our income of almost 40%. What's incredibly interesting here is that WE were told that we couldn't get a loan modification because we HADN'T missed a payment; while the woman in this article was denied her loan mod because she got too far on her payments. When applying for a home loan modification all banks require an outline of ALL of your expenses, which one would assume they will use in evaluating the borrower for modification qualification. Not so. The expense statement that we submitted to Wells Fargo CLEARLY showed that we were running in the red each and every month and their suggestion was that we rid ourselves of some of these non-essential expenses; such as pre-school for our daughter. I was asked by one customer service rep why I was sending my daughter to "daycare" if I wasn't working. Um........anyone out there that has school aged chidren knows that the expectations that are now put on our children in school have increased in intensity by a huge margin. My 11 year old 6th grader goes to public school and the math concepts they are loading him down with are the same math concepts I was learning in the 8th grade. Am I crazy, or does it then follow that pre-school has become an essential part of the education process? My 4 year old is now "expected" to know 50 words by site by the time she reaches kindergarten. Did any of us know 50 words by site before we got to kindergarten?? Anyway......the point I really want to make here is that expenses don't mean JACK when a bank is assessing you for a loan mod.......cancer related medical expenses, pre-school, it's all the same to them. The "industry standard" in the banking community is that if your loan payment is under 40% of your GROSS income it is considered affordable. THIS is what we have to fight. It is outrageous, particularly in the State of California. There............now I'm off my soapbox.
I think it's terrible the way banks treat people, they use our money to make money in the market, then they charge us money for using their banks and cards, then they make huge profits quarterly from mortgage and credit cards yet they can't find away to modify this disabled woman's mortgage. That should be a crime in itself. She obviously went through some hardship with cancer and is verifiable not too mention the cebral palsey she has. Not everyone is rich! The majority of people live paycheck to paycheck and when something like this happens it is devastating. As the blog stated she tried to pay them early on and get back on track but the bank was hearing none of that! It's plain out greed on the banks part and inhumane.....They probably stand to make more money off the property by taking it away from her then selling it.....the motivation is to sit back and wait for people to get behind just enough that we can take someones house away to turn around and make more money! It's disgusting.......
I agree Vince. it's so disgusting. I've sat here for an hour reading and commenting because I don't know what else to do. And the sad part, there are still actual people- not CEOs- people who defend this corruption. Crazy and disgusting.
We've fallen a long way in a short time if people think it's their right to live in homes without making the house payment. Shame on them and their freeloading attitude! They were obviously raised wrong.
Smeado, shame on you for being so misinformed, I wrote the post below, I am TAJ. Read it and tell me I did anything wrong. S&$t happens, life happens, things go wrong and bad. Those things do not make anyone a freeloader. I and my brother and sister are the only people left here to represent our parents who are both dead. I did not do this on purpose, there are things that happen we cannot fix or change. Apparently your parents forgot to teach you--"There but for the grace of God go I"
Fine. I understand bad things happen. But that doesn't mean you get a free house to live in. I'm not misinformed. I'm a real estate broker and I talk to these people every day. 90% of the time it was irresponsible handling of finances that led to people's problems. They can afford $1800 in car payments but not $1500 for the mortgage. Why? Because their gamble on their house didn't pay off? Screw 'em!
I can tell you first hand how hard this process is. We got lied to, told we were deadbeats and irresponsible by bank employees. Our income fell and the house payment went from $1150 to $2379 in 21 months--Could you handle that? We filled out the paperwork and then were told we did it wrong, sent it late, or sent the wrong forms--the very forms they sent us. My husband is now disabled, and I had to retire so he could have healthcare. They don't care about any of you, the almighty buck is their primary concern. Our old house is now empty and falling apart. In the backyard there was a pool and 2 out-buildings. It was a beauty when we lived there, 2 acres, trees, a huge front lawn with flower beds and statuary. Now there are weeds and high grass. I went to the sheriff sale and every single bank bought back every house, there was bidding on ours, but the bank won. The weird thing is CITI brought the foreclosure, but it was Deutsche bank that was in court. I have no idea how that happened, I only know I feel better now. Our old neighbors were kind and helped us move along with our kids. We are both 62 and worked hard, paid our taxes and bills. While we did, we were fine, but when things got bad, there was no help, no offer of alternatives, just nastiness from the bank and shame on our part. I even thought of offing myself, I was that close to ending my life over some lumber, shingles and dirt. That is all that place is to me now, I'm still here, I still have my family, I just am not a homeowner. The one thing this taught me is that I can replace all the "things" in my life, where is the dealer or store to replace my husband or our 3 children or our 5 beautiful grandchildren? To anyone reading this all I can say is that life goes on, you will survive and like us you will feel better. Let it go, it is just a thing, a piece of property, it does not define your character. I found out how wealthy I am when I was at the brink of the grave by my own hand. I have people in my life no amount of money can replace, pride is something you should just feel every day about how you conduct yourself. Be kind, not judgemental, smile at a stranger, hold the door for someone else, say Thank You, say I'm sorry, and most important, say I forgive you - especially to yourself.
Thanks you for opening my eyes....I'm truly blessed to still have my children and my health and dignity. Money could never replaced those. I know we will survive but being a single mother with no financial help is a daily stress for me. My ex found his soulmate on the internet and took off to South Africa and hasn't seen his kids since 2008.
Sujata, I think what you are doing is wonderful. As far as you ex, it is his loss to ignore his children. I know many single mothers and I know it is hard, but when you see your kids look at you and smile, you have to remember you did that, gave them something to smile about. God bless you.
Banks are bunch of greedy asses who runs them.....They are all cold hearted bastards (wish there was a much cruel name for people like them). They figure if they foreclosed of her home they can turn right back around and sell it for more. My story is, I went through a horrific divorce, my home was awarded to me until the last child turns 18 but my ex was supposed to pay the mortgage up until the final divorce which he didn't and ultimately my home was foreclosed. I was unable to communicate with Citibank since the mortgage was not in my name and couldn't make payments because I was a stay home mom with 3 young children and had no income. Make a long story short, I offered Fannie Mae cash for my home (foreclosed for $150,000) but they had something else under their sleeves (who ever was handling my case). Fannie Mae wanted $18,500 non-refundable deposit only then were they going to give me a payoff amount but without a contract. I showed them bank statements after bank statements but still they refused all my offers. They took me to court every month just to tell the court the same thing they told me about the non-refundable deposit. The court couldn't understand why they won't give me a final payoff amount if I showed them I had the funds to payoff the mortgage but Fannie Mae was so greedy they keep increasing the amount while they were still asking for the non-refundable deposit only then a final payoff was going to be given to me. They knew the property was going to be sold for more if they put it on the market and screw with me until they were able to do that. Two days after I left, my home was put on the market and not even 30 days, my home is now under contract. Looks like someone at Fannie Mae work feverously to throw me and my kids out of our home to get a higher price for my home. I was evicted from my home with my children ending of January even though I pleaded and begged Fannie Mae to let us keep our home but those bastards had other plans for my home. I wrote to everyone. The CEO of Fannie, Michael williams, attorney general Eric Scheiderman, director of Federal Housing Edward DeMarco, I wrote to senators, congressman, congresswoman, president and the list goes on. Guess I fell into that 99%, "my voice will not be heard" I'm not one on the millionaires to be part of the wealthy to own a my home. This is the new American way.....I wish Ana all the best in her fight with Wells Fargo. Don't let them win Ana.
And THIS IS A CHRISTIAN country?? Where are all the GOP BIBLE thumpers ??? Why don't they start saying "Jesus wouldn't do this"??? These leaders only claim to be Christian and Religious when it suits them. Show us your religiosu beliefs GOP , do the Christian thing and save this poor woman's home and everyone else like her!!
Why do you want to post stupid statements like that? This is a serious issue that can do without statements or opinions that are totally irrevelant to this issue.
So can anyone explain to me just exactly what "predatory loan practices" are? Did the person who took the loan not understand that there are risks involved with obtaining a loan? Did the loan institution hold a gun to their head and demand they take out a loan for which they were not qualified? Okay things are tough with medical issues and reduced income. But I doubt Wells Fargo refused to take her money. Institutions will work with you if you are willing to make even partial payments. This happened to me once and the lending institution I had went over two years allowing me a chance to get caught up. So it appears to me that the individual in question her, and those she was protesting with, along with the mock-u-pie crowd, are attempting to politicize this issue and are using the illness this woman has to garner sympathy and arrouse an emotional response.
You bear a slight resemblance to Newt...(sorry couldn't resist).
You are correct that SOME lenders will be willing to work with you. This is why I'm with a credit union now. Even with stellar credit, and a good paying job, illness, injury, economy can knock even the most prepared person down. Wells Fargo is not such a lender apparently.
OCC Advisory Letter AL 2003-2 describes predatory lending as including the following:
I know lots of people who continue to work with cancer. My boss had cancer and only took off 2 hours 2 days a week to have treatments; otherwise she was at work ready to work everyday. Don't use medical conditionsl as an excuse. I have health issues, but I work every day.
I am a Real Estate Broker and I can tell you that this happens every day. The Banks just do not care, which is mind boggling to me since all these folks are their customers. The Banks have an opportunity to help people but almost every case I have been involved in, the transactions gets bogged down in (a) a slow and unresponsive process, (b) incompetent people handling the cases, and (c) an attitude that these folks who are their customers are treated like enemies.
Which is a better approach: (1) do what they are doing to this person and spending thousands of dollars foreclosing and evicting, or (2) modify their loan with a lower interest rate, roll the deficient payments into the loan modification, which means the banks lose no money?
How difficult is to work with the customers who fund your existence in the first place? It is incredibly stupid of the Banks and I predict will bring about a new wave of mortgage financing in the future.
The banks don't have to care, unlike the "ole days" there are what, 5 major banks in the US that control the market.
Who are you gonna go to when one does you wrong?
Your choice is cancer, or polio.
If George and his Republilcan cronies did something during his administration, we definitely would not have been in this predicatment. Someone has got to be on drugs to even think the Dems had anything to do with this. After four years of watching the GOP cry in their playpen, Americans are suffering. Go Obama, love ya, thanks for getting this country a good kickstart-no matter what anyone thinks. You got my vote and hopefully we can curb these banks from kicking out those citizens who work hard for the American dream and their homes. P.S. Everytime I think of George he looks like a clown, laughing while shrugging his shoulders
This lady has a right to "feel safe in her private residence" too, just like the executive who would not open his door to accept her money. Wells Fargo looks quite guilty---liar's guilt---in this case, and I say this knowing it is poor form not to wait before judge and jury speak, and knowing the mortgage-holder on the house I inhabit is Wells Fargo.
It should never be to late to catch up payments to stay in your home. 317 billion dollars of our tax dollars bailed out these loan companies whilethey were throwing people out of their homes often illegally. Another 557 million dollars of our taxes has been spent paying for the upkeepof these residences while they sit empty, money the loan company should be responsible for sense they hold the deed on these residences. Why dont they work with people that are willing to catch up on payments or allow those that can't afford to make payments remain in their homes and maintain them until they find a buyer? After all we the tax payers are footing the bill.
that's just another reason why my money is not at Wells Fargo!
We have got to get these deadbeats and freeloaders out of these homes and get solid buyers into them or else the housing crisis will never end. There is no such thing as a free lunch.
Mike, I have heard of people with very good credit wanting to buy houses, with at least 10% down and still can't get a loan. So, how just solid to buyers have to be?
TAJ - because of the housing crisis - more money is required to put down on houses. Many creditors want 20% now
Banks are one of the most "evil" institutions existing. My neighbor is a banker and he sat for four solid hours telling us how the banks consistently rip people off. For example, my daughter's husband wanted to pay the interest on his student loan before they rolled it over into the principle. They sent him the letter notifying him of this TWO DAYS after they had already done it. Yet we are forced to deal with all these crooks. No one has faith in this country any more because it is filled with thieves.
Wells Fargo Sucks !!! We got the power to put all these banks out of business .
And your elected representatives have the power to use your tax dollars to put them back in business, because they are "too big to fail".
to be honest to you all i think all this economic problems is created by billionaries who are to greedy to make more billions,cause after all what they are looking for is driving the poor class to a lower level,to make each one of us a kind of a slaver,whitch means make us gain just enough to pay the bill`s, so they can control us more. since we are the oe`s that put those @!$%#er`s in congress i think we are stupid not to organize our selves to better prepare who we put in congress,cause why you think congress allow them to do this? or yet why you think the goverment dont have a agency that monitor this big corporation so they dont manipulate the system, so we should stop acting as a lamb and start think like a wolf! peace to all
I'm not anti-corporation or anti-capitalist, but mortgage companies have abused their power. They think their past is over, but they are still egaging in unethical business practices.
Hold your ground against the banks and don't give them any quarter. Support those who are having problems with banks and remember how they treat you with your credit cards as they pile on interest rates and late fees.
Forget Wall Street which affects very little of our everyday lives. Banks are the worst of our business institutions and are directly responsible for our present financial decline.
Patheticc when a home owner tries to make right with a bank and they refuse. Obama should have bailed out home owners in lieu of the banks. Working in the medical field, I see tragedy every day where patients are destroyed by outrageous medical bills. When someone is trying, in good faith, the banks and other creditors should be more forgiving.