Thanksgiving Wishes for My Fellow Fighters

I’ll be spending part of my Thanksgiving sorting and packing, getting ready to take the first load of non-essentials to storage in anticipation of an upcoming move forced on me by my mortgage servicer/lender Wells Fargo.

The foreclosure sale on my house is scheduled in late January, but between being very busy at work and needing to put at least a little energy into Christmas shopping for family and friends, I’m feeling the need to try to get a bit ahead.

As angry as I am at Wells Fargo and as disgusted as I am with the course our “leaders” are charting for this country, I remind myself that I am in better shape than many of the millions who fallen victim to the big banks’ foreclosure feeding frenzy.

I don’t have kids who will be uprooted from school or friends by a forced move. I have a job; my company is finally recovering from the economic downturn caused by the greed and fraud of the big banks. I am healthy and able to work, to pack and to haul my belongings across town. I have the financial resources to find a new home for myself and my pets. I have the skills and determination to keep fighting Wells Fargo until the very end. And I’ll be telling my story and urging people not to do business with Wells Fargo and the rest of the big banks for the rest of my life. You can count on that.

So, as much as is possible while I’m sorting and packing to leave what I thought would be my home for life, I am thankful today on this day of national Thanksgiving.

My good thoughts and very best wishes to all the other Americans who have been lied to and strung along and cheated by the banks that are supposed to be serving them. I wish you a peaceful and prosperous New Year. I hope you fight as hard and as long as you can to keep your home. I hope you keep your old home or enjoy your new one. I hope you tell the story about what your bank has done to you to as many people as you can. I hope you never deposit or pay a dime to another big bank ever again and you encourage your friends, family and even total strangers to move their money to local/regional banks and credit unions.

Good luck and Happy Thanksgiving.

Foreclosure Justice Advocates are Thankful in 2011

We’re thankful — and worried

Start a Conversation With Your Banks … At Their Expense

“If you can’t occupy Wall Street, at least you can keep Wall Street occupied.” Brilliant!

Now, everyone go out and buy some wood shims or cut up some of those spare roofing shingles you have in your garage or storage shed. And don’t forget to insert a message telling the banks just why you’re doing this!

Misery Loves Company … Even the Virtual Kind

Even when I’m feeling completely frustrated with and defeated by the banksters’ blatant fraud, the Obama administration’s perfidy and the Attorneys Generals’ impotence, at least the Internet connects me with others with similar frustrations and fears.

(Yeah, it connects me to the ridiculous rants of the multitude of wingnuts, too. There’s a downside to everything.)

I found some rational and wise voices today in a NYT Op-Ed about how most of the states’ attorneys general want to sell out consumers to the big banks for a paltry sum.

“Equal justice under the law to have any meaning must mean that there is no dual set of laws for the fat cats and another for everyone else.

Small fry are prosecuted for perjury and fraud and are sent to jail. There has not been a single prosecution of a CEO or a banker for fraud. The top people are an immune class. They are too big or too powerful to hold to the same standards as mere middle class mortals…

… So far the Obama administration has bought into the idea of an immune and entitled class. This has infuriated the vast majority who see this as evidence of inequality and their inferior class of citizenship.

These bankers who are now brandishing their power need to be reminded that they are not royalty. Thanks to the GOP our democracy is in intensive care and may not survice; but it is not dead yet. Perhaps 50 or 100 felony indictments for criminal fraud, perjury and statutory violations would be the right message to send as congress obstructs legislation…” ~Moishepippic34

Exactly what I’ve been saying about how the rule of law has to be preserved or the fabric of this republic will be damaged, perhaps beyond repair.

Like the next commenter, I also fear that in the last decade we’ve seen the seeds of revolution sown by our government at the behest of their corporate masters.

The elephant in the room is this… If the American people don’t see justice done, if they have no recourse, if they continue to be drained of their remaining wealth, then violence is inevitable. Government is the art of maintaining justice and balance so people can invest in their futures. If you take that away from the majority of Americans, what do you expect to happen?   ~cud

I also have come to the conclusion that both Congress and President Obama are the great enablers, trading billions in campaign contributions for allowing the corporate fat cats to do anything they want. Our government is working against average citizens to feed the greed of a small number of people who believe themselves and their institutions are too big to fail. I believe a little look back at history would disabuse them of that notion.

“The Obama administration is owned by the banksters. That’s all there is to it.

A settlement of merely $25B is some kind of depraved joke, from banks that have helped rob the economy of trillions of dollars.”   ~Dave Kliman

I’m afraid I agree with Mr. Kliman. I tried for a long time not to believe that the administration was, for example, purposely creating“home preservation” programs that were nothing but big scams. But no rational person who really wants to accomplish something creates a voluntary program administered and applied by the very same people who so recently ran the entire world’s economy into the ground. HAMP and the other programs have failed because that was precisely what they were designed to do.

“As a strong supporter of President Obama, I am seriously dismayed by the lack of White House interest in pursuing Justice against the bankers and Wall St. greed mongers who most certainly caused the mess we are now in.

This is the tipping point for me in my support of the Obama administration…”  ~santafenick

For me, too. I will not be supporting President Obama’s bid for re-election. If I cast a vote in his favor in the 2012 election, it will really be a vote against whichever of the Republican wingnuts rises to the top of the pile.

“It’s sad that Obama has so obviously bought into the ethic of short-term gain at the expense of our country’s wealth. This is not the hope and change I voted for. I will certainly do everything I can to make sure he is not elected in 2012. At least a Republican will be honest about stealing from the poor and giving to the rich.”  ~cud

Amen.

The Games Wells Fargo Plays: Denying Mod Based on Faked Income

I swear those loss mitigation folks at Wells Fargo remind me of naughty children. You know, the snot-nosed five-year-old who holds his hands over his ears when you’re trying to reason with him and then shouts “I can’t hear you!”

I’ve been working with (against) Wells Fargo for 20 months now trying to get them to restructure my mortgage loan. After stringing me along and trying all kinds of misinformation and outright lies, now they’ve resorted to out-and-out fabrication of numbers, namely ignoring my reported and verified income figures and assigning their own much lower number.

And how do they justify pulling a number our of thin air instead of using the reams and reams of income-verification paperwork I have sent in over the past nearly-two years? Of course, they don’t. They just use this bogus figure to justify denying my loan modification, saying my income is insufficient.

I have been very clear when providing income information, so I’m quite sure this isn’t a mistake or a simple data-entry or calculation error. I do think it’s a calculated strategy to “justify” turning down the mod. Let’s see whether you agree when you know the facts.

I am the owner/sole employee of an S-Corporation. Twice each month I write myself a check from the business credit union account. I then deposit those checks into my personal credit union account. Different credit unions. Business account in business name. Personal account in my name. Very clean, clear accounting.

From the business account, I pay to the IRS the entire quarterly payroll tax for the amount I have paid out in payroll to myself. I do not pay any portion of this tax via my personal account.

For this example, let’s say the amount of the two monthly checks is $900 each, for a total of $1,800. Very simple.

To verify/confirm that income, Wells Fargo has a year + of credit union statements for both my business and personal accounts. Per a request from a Wells Fargo representative, one set of statements was provided after having been very clearly marked up to highlight the check numbers and amounts on the business statements and the corresponding deposit dates and amounts in my personal account. Payroll expense out; personal income in. Couldn’t be more clear and simple.

We have also sent copies of the fronts and backs of the checks to further prove that income amount we are submitting is correct. And they have profit-and-loss statements broken down by month, clearly showing the payroll expense matching the statements and canceled checks.

Yet, for some reason I cannot fathom, Wells Fargo’s underwriters have in two consecutive modification reviews designated my net income as $1,185. In the current review, even the “loss mitigation” person who is my designated “single point of contact” seems to understand that my net income is $1,800. But the underwriter persists in using the much lower number and – big surprise – determining that my income is too low to qualify for a mod.

I’ll be adding a report of this nonsense to the already-thick complaint filed with my state’s attorney general, for all the good that will do. Will this fraud never end? Won’t anyone with any power step up and smack these naughty children around until they take their fingers out of their ears and behave at least as well as a reasonably civilized five-year-old?