A 63 year-old California woman has finally received her wish after a nearly a year and a half of fighting, a meaningful mortgage modification on her home of 27 years. The woman was evicted from her home by Alameda county Sheriff's Deputies in 2010 but on January 19, 2011 she took a bold step in an effort to get her home back...she hired a locksmith to change the locks on her home and she began to "squat" in the home.
Since re-entering her home, the woman has launched a crusade to get her mortgage modified. She sued Wells Fargo in federal court and when her case was dismissed she appealed the decision without the help of a lawyer. She has had California state legislators write to Wells Fargo on her behalf, had community organizers "blast" Wells Fargo's offices with emails and phone calls, confronted Wells Fargo Regional Vice President at a meeting arranged by the Oakland teachers' union and even been lead away in handcuffs after interrupting Wells Fargo's annual shareholders meeting.
A Wells Fargo spokesman has stated the deal reduces the principle amount of the woman's loan from $484,000 to $365,000, but said the company modified the loan "because we want to keep homeowners in their homes", not as a result of any of the antics of the homeowners. The principle reduction reduces the homeowner's payment by about $500 per month.
A Jacksonville Foreclosure Lawyer does not recommend taking such extreme actions when trying to prevent foreclosure of your home. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today for a free case review to determine what foreclosure defense options may be available in your case.
