UPDATE: Martin Andelman from MandelmanMatters informed SFF that this house belonged in a reverse mortgage under Larry Anderson’s sisters name and not his. There is no modification happening here since he did not own the house.
To learn more about reverse mortgages please head over to wikipedia.
UPDATE 2: This home is under Mr Anderson name. You can follow the comments below.
via: rpsomerton
Bank of America forcing a combat Veteran out of his family home, owned since 1984. 74 year old, Larry Anderson says Bank of America has screwed him out of his home, claiming elder/financial abuse, must be out of the only home he owns, by 15th July!
Larry took a fall last week & broke several ribs, his doctor now says that if he’s forced by Bank of America to move out on July 15th it could prove deadly!
mean heartless bank of america why this is not supriseing anyone
bank of america banksters only wants to steal homes all over america
usually by way of fraud
I’d suggest that Banks, Fannie Mae have little interest in housing people, the interest is in profit. This is where most problems originated, and became much worse over time.
I have some concern when supporters of homeowners suddenly assume credibily with somewhat unconvincing arguments. I would suggest the “rule of law” is not some iron clad absolute, unless we acknowledge its un-Democratic subversion to serve the interests of the profiteers. The UCC, for example, was written favorably by and for the Banks. Bankruptcy laws are absurdly unfair, yet here’s Mandleman soberly reminding us, that this financial empire is regretably left with no other choice. I gather I understand your point – right and wrong, and in fact housing people in general, aren’t particularly important. Instead, claiming the law is some immovable golden rulebook, rather than a pretense of ambiguity and money driven interpretation and convenience – is somehow a much more effective method of being credible.
I don’t buy that at all – but thanks for improving the accuracy of this one tragedy of many.
Okay, I spoke with Larry Anderson at length and he may be able to qualify for a VA loan. BOA said they’d be willing to sell him the home and I’m contacting them to ask that they give him a chance to do so. I’m confident that they will, and I conferenced in a lawyer I know well and he helped Larry with some guidance on a pro bono basis, of course. Now we’ll see where we can go from here and will keep you posted.
Martin, the right thing for BOA to do would be simply to provide a blank set of keys for the house and walk away. Any bank period, that puts someone on the street, is guilty of abuse. You continue to equate the behavior of both Fannie Mae and BOA as if they are somehow equals to the individuals who are struggling and that the Banks behavior is completely acceptable and somehow indemnified under our gracious infallible system of law. BOA will say many things, they care less about the people involved, and typically, the only way to bring them to do the right thing is to publically and relentlessly humiliate them. BOA is present in this situation (and many others) simply because the opportunity exists to jam their blood funnel into a crisis situation and extract some kind of tribute. I find it irresistible to discount your constant talk of “I want to help, I want to help”, but I can’t say you are completely full of crap just yet. However, you snidely inferred that without a job, that someone is ineligible for housing, according to rentier Fannie Mae. Millions don’t have jobs, and cannot find them, should they be in the street too? You implied that helping this individual means issusing another predatory loan. Who finds this amusing or whimsical – just you? Allow me to be even more cynical, if I were a Bankster, I’d control the stream of propaganda, since public opinion is enormously important, and nothing has worked better than assuring the public that victims are deadbeats, and things aren’t really so bad, and the epic number of verifible yet unprosecuted crimes aren’t really anything to worry about. These lies have zero credibility but are very effective as they are distributed and repeated endlessly. Increasing the effectiveness of controlling the message would require something more insidious, like setting up blogs, run by apparent experts, who give the appearance of advocacy towards victimized borrowers, but actually have an agenda that ignores corruption, bribery, perjury, forgery, and a dozen different kinds of fraud. Remember this is Fannie Mae and BOA we are talking about.
Finally Martin, this guy doesn’t need any more usury, or loans, he needs housing – period. But in the USA these days, we’ve decided with unprecedented hostility that people should simply suffer, it’s their dollars that make them elgible for housing, and we dance around that suffering and insane rationale by pretending it doesn’t exist, instead diverting attention and focusing on other trivialities.