A Phoenix, Arizona woman is taking on two mortgage giants, Bank of America and Fannie Mae, and the case is making its way through federal court. Lilly Washington is representing herself, and seeking ownership of her home and compensation for belongings that were thrown out when her home was wrongfully foreclosed.

Washington was in the middle of a loan modification with Bank of America when her son who is in the military was wounded and sent to a hospital in Germany. She informed the bank that she needed to go be with her son, and BoA assured her in a letter that they were aware of her trip and: "will await your return so that we can finish the loan modification process." She thought everything would be fine until her return.

But just days after leaving, the bank foreclosed, and Fannie Mae took ownership of her home:

Via:

"Everything was empty. Everything. Upstairs, downstairs everything was empty," says Lilly Washington.

Washington was stunned when she returned home and found a "for sale" sign in her yard. She managed to get back into the home and immediately started making calls.

"I said 'where did you put my stuff from the house. Which storage.' They said, 'we don't put in storage, it is at the city dump.'"

Washington had just returned from visiting her wounded son in Germany. She was gone for a month and half. Her son's Purple Heart was thrown away too.

"I said, my gosh how can you take that. He is fighting for this country. And you steal from his home, everything," says Washington.

Washington's church helped her refurnish the home as she wasn't able to recover any of her belongings, and she has been fighting for two years now to regain ownership.

Update after the jump...

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On 1T day in New York City, hundreds of college students from around the city gathered at Union Square for a rally and then marched downtown to Wall Street. At Union Square, some students publicly burned their student loan debt documents. "1T" stands for 1,000,000,000,000 (one trillion) dollars, which is now the official amount of student loan debt owed to big banks by American college students.

Students in other cities around the country are also rising up in protest, many signing pledges refusing to pay back their loans.

Via:

Several hundred protesters, mostly college students wearing placards noting the size of their debt loads, rallied in New York City's Union Square park on Wednesday.

They set fire to student debt documents and held signs reading "Debt free degrees" and "Education in America: Don't bank on it."

Hadi Nassar, 31, whose eight years of undergraduate and dental school education has left him $186,000 in debt, said he was having to rethink his plan to work at a community health clinic.

"It makes me angry. It makes me not want to do what I set out to do - which was, help people, take care of people," said Nassar, a dental resident. "That type of job isn't going to give me enough income, monthly, to pay this off."

While both Democrats and Republicans agree that it is imperative to prevent student loan interest rates from doubling to 6.8 percent, as they are set to do on July 1st, they part ways as to how to cover the loss of revenue estimated at $5.9 billion.

Democrats would close a tax loophole they have dubbed the "Gingrich/Edwards Loophole," which allows millionaires to avoid paying Medicare taxes. Republicans want to eliminate the preventative health fund, which House Speaker John Boehner (R-Ohio) called a "slush fund" on Wednesday.

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