Wells Fargo and HUD: Don’t foreclose on Hurricane Sandy victims
I live in New Jersey and my home was almost completely destroyed by Hurricane Sandy. Now, I’m at risk of losing it all over again. This time because of Wells Fargo. And I’m not alone.
In the wake of the devastating superstorm, many of us lost almost everything and we’re still struggling to rebuild due to incredible costs of reconstructing everything. I had to send two of my three daughters to live with my sister while my other daughter lives with me and my husband in a trailer that we purchased and set up in our front yard while reconstruction on our home continues. We are about halfway done with the repairs that are necessary for us to move back in, but now we’re facing a possible foreclosure.
After the hurricane hit, the Secretary of Housing and Urban Development, Shaun Donovan, announced an agreement with major banks that would put a moratorium on foreclosures for people in disaster zones to give us a chance to pull our lives together after this natural disaster. On April 13, 2013, Donovan extended the moratorium in order to allow people the time to repair their homes and replace lost necessities.
Wells Fargo is my lender and I have a loan backed by the Federal Housing Administration which means that my mortgage should be covered by the agreement. That’s why I was shocked in early May when I learned that Wells Fargo had reported me to credit bureaus, claimed I had a past due balance on our mortgage for the time period during the moratorium and said that we could face foreclosure. There are thousands of other homeowners who are still struggling to fix their homes and rebuild financially who could be losing what’s left of their homes if Wells Fargo is not forced to comply. Many other homeowners in my neighborhood alone are facing the same problem with the bank.
Many families like mine were forced to drain our savings and exhaust whatever financial resources were available to us in order to replace lost necessities, secure temporary housing and support ourselves and our families. My family had to borrow money against my husband’s 401K to finance construction. But Wells Fargo is the largest mortgage lender in the country. They’ve reported record high earnings and profits continue to grow. Is it asking too much of Wells Fargo to comply with a federal order that was meant to help their customers recover from a devastating disaster? I want to be able to pay my mortgage, but we need some time to get back on our feet.
Please sign this petition to tell Wells Fargo to stop foreclosing on Hurricane Sandy victims and asking the Department of Housing and Urban Development to force Wells Fargo to comply with its federal order. Thank you.