These big banks are out of control with their disgusting practices. This guy is in the “sandbox” fighting a mindless war that cannot be won and if he’s fortunate enough to come home, he might not have one? In August, Tim Collette’s son Aaron will spend 15 days on leave from Iraq. Aaron is 20 years old, and he’s been in the Army for about a year and a half. A few weeks ago, his squad was hit with an improvised explosive device. Everybody survived, but it frightened both the soldier and his family. The Army told Aaron he could go anywhere he wanted. And of all the places in the world he could visit, Aaron wants to go home. But Aaron might not have a home to come home to. Collette has been defending his house from foreclosure since 2008. It’s currently scheduled to be auctioned off on June 20. “I just want him to come home and know he can be safe for 15 days,” Collette told HuffPost. “I don’t want him thinking about coming home and having it not be there.” Tim said negotiating with his bank, JPMorgan Chase, has been a living nightmare. When he first asked for help in 2008, he had not missed any payments. At the time, his mortgage was being handled by Washington Mutual, a subprime lending specialist Chase purchased in the fall of 2008. Collette said WaMu told him he would only qualify for a loan modification if he missed two of his $1,100 monthly mortgage payments. So he missed the payments. And the bank began trying to foreclose on him. “They told me that you can’t qualify for a loan modification without missing two payments, so I missed two payments, but I haven’t gotten the modification,” he said. The bank has repeatedly lost Collette’s mortgage paperwork and he receives different, often conclicting advice almost every time he communicates with Chase. After months of wrangling, the bank agreed to a “forbearance plan” that cut Tim’s payments from $1,100 to $600. In 2010, after making 13 months of payments, an unexpected bill arrived on Collette’s doorstep. Chase wanted the $500 a month differential back, plus penalty fees: $9,000 in total. Collette could afford to pay $1,100. But he didn’t have $9,000. After thinking he had arranged for at least temporary relief, Chase suddenly demanded that he pay up, or get out. JPMorgan Chase and its CEO, Jamie Dimon, have spent months apologizing for illegally foreclosing on the homes of active-duty military members currently fighting in Iraq and Afghanistan. Soldiers have an extra layer of legal protection in mortgage lending. Even if you miss payments, a bank cannot evict your family while you fight for your country. “He worries about it,” Collette said. “I don’t talk to him about it when we talk, but he knows what’s going on and he shouldn’t have to think about this when he’s trying to stay alive.” “A lot of us going through this foreclosure stuff now, we paid our bills,” he said. “We got into our homes because we worked for it, and when the economy goes down we just want a hand . . . We gave the banks a bailout and they just stuffed the money in their pockets.” They know a large percentage of those foreclosures are fraudulent anyway. SMH at these banks … Source
Read more:
Big Banks, Bogus Business: Chase To Foreclose On Active Duty Soldier’s Home
