A Chicago housing non-profit organization and community residents protested Thursday outside Wells Fargo Bank in an effort to help a homeowner facing foreclosure by year-end.
Action Now marched outside the financial institution’s branch at 511 W. North Ave. on behalf of homeowner Marilyn Stewart who has unsuccessfully been trying to arrange an in-person meeting with the lender to discuss having her $1,600 monthly mortgage modified.
Stewart, a single mother of a disabled son, fell behind on her mortgage earlier this year when she had to pay funeral expenses for a family member. In November, a Cook County judge told her to vacate her home, a two-flat building at 6435 S. Langley Ave., in the next 60 days.
“I am a widow, and this is my primary residence. Action Now is trying to help me as well as my alderman but so far nothing,” Smith said. “I guess I am one of the unlucky ones. But I am not bitter because I know God will rescue me.”
Wells Fargo did not return phone calls seeking comment.
The organization is trying to arrange a face-to-face meeting between Smith and Wells Fargo, but so far the lender has refused a meeting.
“Wells Fargo is responsible for the terms of her loan that is predatory in nature and their utter disregard for Ms. Smith’s situation coupled with their refusal to help modify her loan is inexcusable,” said Susan Ritacca, a spokeswoman for Action Now. “(We are) demanding an affordable modification for Ms. Smith’s loan as well as for all predatory lending victims.”
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Copyright 2008 Chicago Defender. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Action Now marched outside the financial institution’s branch at 511 W. North Ave. on behalf of homeowner Marilyn Stewart who has unsuccessfully been trying to arrange an in-person meeting with the lender to discuss having her $1,600 monthly mortgage modified.
Stewart, a single mother of a disabled son, fell behind on her mortgage earlier this year when she had to pay funeral expenses for a family member. In November, a Cook County judge told her to vacate her home, a two-flat building at 6435 S. Langley Ave., in the next 60 days.
“I am a widow, and this is my primary residence. Action Now is trying to help me as well as my alderman but so far nothing,” Smith said. “I guess I am one of the unlucky ones. But I am not bitter because I know God will rescue me.”
Wells Fargo did not return phone calls seeking comment.
The organization is trying to arrange a face-to-face meeting between Smith and Wells Fargo, but so far the lender has refused a meeting.
“Wells Fargo is responsible for the terms of her loan that is predatory in nature and their utter disregard for Ms. Smith’s situation coupled with their refusal to help modify her loan is inexcusable,” said Susan Ritacca, a spokeswoman for Action Now. “(We are) demanding an affordable modification for Ms. Smith’s loan as well as for all predatory lending victims.”
______
Copyright 2008 Chicago Defender. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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