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.
Add your name and tell President Obama to change the way banks treat homeowners!
Mortgage Services must stop unfair and deceptive practices against homeowners. The following is a list of deceptive practices that harm homeowners:
1. Denying eligible homeowners who qualify for a HAMP modification and pushing them towards a less affordable proprietary "in house" modification.
2. Granting a 3 month trial modification and leading homeowners to believe the loan will be permanently modified. After many months and sometimes years of paying the "trial" payments the banks suddenly refuse to accept future payments. The homeowner learns that tens of thousands of dollars in interest and fees have added up and they are now too far behind to reinstate the loan or qualify for a modification. This scenario has been set up only to financially benefit the servicer of the loan.
3. Servicers claim that financial documents were never received from the homeowner and force the homeowner to repeatedly send in new documents. This also delays the process and allows the servicer to collect additonal interest fees and late charges.
4. Improperly calculating homeowner income to disqualify them for a loan modification.
5. Processing payments late or misapplying payments so the homeowner will be deemed late or in default.
6. Misapplying HAMP trial payments or processing incorrectly so the homeowner is disqualified for a modification.
7. Declaring via drive by assessments homes are vacant when the home is in fact owner occupied. This serves to disqualify the homeowner from applying for a modification.
9. Foreclosing on homeowners while they are in review for a modification.
10. Discriminating against minority homeowners by forcing them to provide documents that are not otherwise required by white homeowners.
11. Refusing to investigate and correct errors reported by homeowners such as force placing expensive homeowners insurance when the homeowner has demonstrated they purchased adequate insurance coverage. This benefits the servicer financially and harms the homeowner.
Prosecute financial executives who have committed criminal violations to deter others and show they are not immune to the rule of law. This will restore homeowner confidence.
If you are a homeowner or know a homeowner who has experienced these unfair and deceptive practices please add your name to this petition.