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.
Photo from taberandrew via flickr.