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Freddie Mac Faces Protests Over Loan Practices

Freddie Mac Faces Protests Over Loan Practices

Taxpayer-funded mortgage lender Freddie Mac faces escalating scrutiny after allegations it placed bets in order to profit on struggling homeowners and maintained a practice of refusing to modify loans to struggling homeowners nationwide like Marine Aurturo de los Santos and Bernita Jones.

Despite being willing and able to pay his mortgage, Arturo was told that he would need to enter default before being considered for a loan modification and has since been denied the opportunity by Freddie Mac to pay his mortgage for the past 2.5 years. Ms. Jones’ home was foreclosed in September of 2010 after Bank of America bungled her loan modification. Through no fault of her own, Bertina found her home of 15 years threatened by Freddie Mac.

Tuesday, advocates on behalf of millions of homeowners will take their complaints directly to the offices of Freddie Mac in New York City, Washington DC and Southern California. Advocates will demand Freddie Mac engage in a fair negotiation for Arturo de los Santos and homeowners across the country that have faced unfair and illegal eviction.

Information for the events is below.

Events on February 28, 2012 (ALL TIMES LOCAL)
Washington, DC-Area – 12:30 pm Eastern,

Freddie Mac Headquarters
8200 Jones Branch Drive
McLean, VA 22102
DC-area residents and homeowner Bertina Jones of CITY, MD will petition Freddie Mac for fair negotiation of Arturo de los Santos and Jones’ mortgages.

New York – 1 p.m. Eastern,

Chase Bank Corporate Office & Headquarters
270 Park Avenue
New York, NY 10017
NY-area residents will petition JP Morgan Chase for fair negotiation of Arturo de los Santos’ mortgage.
Southern California – 12 p.m. Pacific,

JP Morgan Chase Bank & Homeownership Center
1300 N. Main St.
Santa Ana, CA  92701
Homeowner Art de los Santos will plead with JP Morgan Chase and Freddie Mac to accept his money. Art will bring a check for several thousand dollars to offer as a down payment on his past due amount, and demonstrate that he has the income to afford the monthly payments.

Related Stories:

A Marine Evicted: The Arturo de los Santos Story

Read more: , , ,

Photo from taberandrew via flickr.

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6:30PM PST on Mar 4, 2012

Jennifer, Thanks for your comments. It appears that Thomas M is among a group of "White Americans" that have yet to pick up their laundry. You know how dirty things can get, when yu are out there cross burning.

I would like an hour with this sour, so-called human. He appears to be in pain and willing to blame others for his many failures.

6:16AM PST on Feb 29, 2012

I hope there are protests and more investigations into their despicable behaviour. They're revolting, greedy and soulless.

1:33AM PST on Feb 29, 2012

Let there be repercussions.

5:41PM PST on Feb 28, 2012

Brian m, My suggestion...get off the illegal meds. You make so little sense.

Your words require much more characters and time that is allowed here. Lets us suppose that you are 19ish and have only a GED, that would make some degree of sense.

The history of suffrage of Black-Americans is well documented, possibly you have missed that.

As far as your remarks about Blacks-Ameicans being the only that you have awaken from your long hibernation, GUESS WHAT!

White "America" is bitching like HELL, they also lead in KILLING and Pillaging.

Gosh, I almost forgot. Your words... "I would be more than happy to read constructive criticism on my thoughts but i guarantee you i can prove everything i say with strategist's"

Possibly, you were thinking something like this..."I would be more than happy to read constructive criticism on my thoughts but i guarantee you i can prove everything i say with statistics."

At the end of the day RACISM IS it what ever you want, if it allows you to sleep.

5:34PM PST on Feb 28, 2012

The blatant conflict of interest involved in betting against your own loans is mind boggling. This practice should be a crime.

11:34AM PST on Feb 28, 2012

Thomas M. Your comment is racist and offensive, not just to say insensitive and just plain wrong. And by the way, here's a word to add to your limited vocabulary: the word is "statistics", not "strategist's" (whatever that means)!

10:40AM PST on Feb 28, 2012

Quite a load you dumped here, Thomas. I know plenty of white complaining
these days - presumably you're one of them.

10:36AM PST on Feb 28, 2012

Blacks are complaining about everything and anything today. I sure don't see white people complaining, maybe that is because you are content and live with yourselves with paying your tax dollars paying their rent e.g $1800 a month and they pay $80, your tax dollars paid their rent, their electric bill is $300 and they paid $20, again your tax dollars at work. Decades of your tax dollars going for welfare and food stamps when you may be going without food yourself only because you are white. That is a proven fact, you will not get any aid from the Government because you are white and believe me that is a proven fact, they look at it as your white and should know better and you didn't do anything wrong. I would be more than happy to read constructive criticism on my thoughts but i guarantee you i can prove everything i say with strategist's

9:36AM PST on Feb 28, 2012

Time these crooks were prosecuted.

8:10AM PST on Feb 28, 2012

We need more than protests. We need to get some high paid asses on trial for fraud.

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