Elderly Civil Rights Activist Faces Foreclosure, Eviction
I've lost count of the number of reports I've read in recent years of an elderly person facing the trauma of losing their home to foreclosure and being taken by ambulance to the hospital on eviction day due to the effects of stress on their physical health. Or those who would rather end their own lives rather than face the possibility of being put out on the streets in their senior years.
The story of 78-year-old Helen Bailey is especially poignant this Black History Month, as she was active in the civil rights movement and marched with Martin Luther King.
Change.org has started a petition calling on Chase Bank to make a settlement with Ms. Bailey, and cancel any scheduled foreclosure auction:
Helen Bailey is a 78-year-old grandmother who participated in the civil rights movement, worked as a childcare provider for autistic children, and was a community volunteer. She has paid her mortgage since 1999, but now she can't keep up the payments. All she wants is to stay in her home until she dies, in the neighborhood where she feels safe and has lived for nearly quarter of a century. She could have refinanced with a company willing to let her live in the house for free until her death, but Chase Bank would not reduce her principal by $9,000. She's been paying 7% interest, well above most rates, so Chase could have decided they had made enough. Instead, they have started foreclosure and Ms. Bailey could end on the street.
Since then, Ms. Bailey's lawyer has found an alternate buyer for her home. This sale would provide Ms Bailey with an exit from her current mortgage and allow her to pursue other options for housing. We request that Chase:
· accept the offer of $85,000
· write off any deficiency between the loan balance and the offer
· waive all interest, legal fees and penalties accrued since the initial refinance offer
· cancel any foreclosure auction scheduledIt has been estimated that at foreclosure, Chase may lose over $30,000 compared to this settlement offer. Therefore this option makes the most sense financially for Chase and given Ms Bailey's specific circumstances, there is little moral hazard in this solution.
If you'd like to add your name to the petition calling on Chase to keep Ms. Bailey in her home, you may do so online here.
as it is common
It's a dream. A really bad one.
Bite my shiny metal ass.
http://www.startalkradio.net/
The fine folks at Occupy Nashville have been pushing this issue, among many others. They're in a fight for their life with the TN Legislature.
Show them some love at http://occupynashville.org/.
I've been posting at FDL about them, and I have other videos. Feel free to borrow.
we make sure our big campaign donors don't lose their gold-plated toilets and jewel-encrusted toilet paper dispensers.
When it comes to those that actually sacrificed their bodies through hard labor to build this nation, so it was possible for the current oligopolies to exist and even accumulate their wealth in the first place, we see where both parties stand in lockstep.
It is a disgrace that these banks will only be required to pay back a small fraction of our tax dollars, given to them to bail them out, in order for none of them to go to jail.
If legislation is for sale, it always goes to the highest bidder.
.
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
If the $16 Trillion the Fed distributed to banks and corporations, foreign and domestic, had instead been divided equally among all American citizens, each of us would have received in excess of $50,000. And a lot of that money would have made its way back to the banks and corporations when We The People paid off our mortgages, our student loans, our credit cards, bought a few new cars and appliances, etc.
When will government of the people, by the politicians, for the corporations perish from this Earth?
Not soon enough!
You can thank the politicians - including Obankster for this. They could have forced these Bankster scumbags into any concessions they wanted when they were going belly up.
But instead, they just gave them the keys to the Treasury vault, and let them do what they pleased.
Now, thanks to Oscumbag, these bastards are getting off scott free by paying $2,000 to those people illegally evicted from their homes.
Here's $2,000 in peanuts, in exchange for your home you worked for your entire life and that we stole illegally from you.
This country is so fucking sick!
If I were a psychopath, I would join the republican party, and get in on the gravy train taking the Teabircher morons to the cleaners.
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