Tell Chase Bank: Don't Foreclose on Soldier's Father
20 year-old Aaron Collette is currently serving in Iraq and looking forward to seeing his family. He's been in the Army for a year and half, and recently survived an IED explosion next to his squad. Aaron could vacation anywhere in the world, but he simply wants to come home to Oregon and see his family.
Unfortunately, Aaron might not have a home to return to. His father will lose his home - and the place Aaron calls home when he's not at war - in August.
JPMorgan Chase is foreclosing on Tim Collete's home in Bend, Oregon on June 20th. Tim has asked the bank to hold on foreclosure proceedings until his son, Aaron, is able to return from Iraq for his two weeks of leave time. But so far, they've refused.
"I don't want him thinking about coming home and having it not be there. I just want him to come home and know he can be safe for 15 days," said Tim Collette.
Tim Collette's story is all too familiar. He was told by his bank that he'd only qualify for a loan modification if he missed two of his monthly payments. Once he did that (remember: per the bank's instructions), Chase attempted to foreclose on him. One financial blogger writes, "Like the nightmare scenarios we have heard about, they basically tortured him for a year and ended with turning down his modification request."
Update 6/24/2011: When Tim Collette's story initially broke, Chase responded to the media frenzy by telling reporters they would work with Tim to find a solution. Last week, they informed Tim that the foreclosure is back on. Tim and his family are now scheduled to be foreclosed on August 9th.
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