David Dayen: Our bank wants us homeless

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David Dayen: Our bank wants us homeless

David Dayen: Our bank wants us homeless

Bank of America is doing everything it can to kick this family out of its home. Here’s why you could be next


Salon-

Warning: While completely horrifying, the story of how the Mata family had its lives turned upside down is not harrowing just because of what happened to them — but also for how it represents the quiet story of so many other Americans, as well.

Gisele Mata, her husband and three children have lived in the same home in Whittier, Calif., for 10 years. They fell victim to the Great Recession in late 2009, when she and her husband were both laid off within six months of one another; Gisele had been at her retail job for 23 years before the dismissal. Determined to stay current on their home loan, both she and her husband cashed in their 401K plans.

What follows is a story of how seemingly illegal, but very common, bank machinations affect ordinary homeowners — who, after bad luck or an accident of timing, turn to their bank for help, only to get caught up in a nightmare. There’s a tremendous amount of shame put upon homeowners, who are unaware of the institutional forces working against them, and who think they somehow deserve this treatment. And there’s a risk that others will fall prey to the same scheme.

[SALON]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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