50 signatures reached
To: John Stumpf, CEO Wells Fargo
Wells Fargo: Stop the Foreclosure & Approve The Vellanoweth's Request For A Loan Modification!
Stop all foreclosures and evictions and provide real relief that will keep families in their homes and restore the wealth your bank has stolen from our communities. Provide reasonable loan modifications that include principal reduction for all underwater homeowners and others at risk of foreclosure, and stop employing tactics designed to mislead, bully, harass, and intimidate homeowners. Stop your attempts to block communities from providing their own solutions to the crisis.
Why is this important?
In 2007 our family purchased our first home in the city of Whittier. Unfortunately, due to the financial housing crisis our home depreciate in value. We struggled for a while applying for a modification but were refused several times. In 2011, we refinanced our home using a HARP refinance which alleviated the pressure for a while, but it was not enough. In 2012, both my wife and myself were laid off from our jobs of twelve (12) years. We were both able to secure employment but struggling because our income was reduced by 50%. We applied for a modification again and were denied. Unfortunately, I was laid off for a second time and fell behind on payments. Wells Fargo has refused to modify our 2nd mortgage claiming that my income to debt ratio does not fall in their guidelines to modify my loan.
Wells Fargo has a well-documented history of abusing customers seeking mortgage modifications, racial discrimination and peddling faulty mortgages that led to the financial crisis. Now a lawsuit has brought to light a 150 page manual used by the bank, that attorneys say provides a step by step instructions for Wells Fargo lawyer’s to fabricate documents in order to illegally foreclose on millions of homeowners.
How it will be delivered
We plan to deliver our petition at our local Wells Fargo branch.