-
-
8:45am
-
Hayward Hall of Justice 24405 Amador Street, Hayward, California 94544 – Dept 520.
- What you can do:
Show your support by Phone/fax/email blast Today!
Chase Bank CEO Jamie Dimon: Tel: 1-800-548-7912 or 877-682-4273
Fax 614-422-7575 Email: Jamie.dimon@jpmchase.com
Freddie Mac CEO, Donald Layton: Tel: 703.903.2000; Fax 703.903.4045
Federal Housing Finance Agency Acting Director, Edward DeMarco: Tel: 202—649-3800; Fax: 202-649-1071, Email: FHFAinfo@FHFA.gov - Here’s what happened: Nell Myhand (1329 E. 32nd St Oakland CA 94602) lived with her partner, Synthia, in her home for over ten years. They fell behind on their mortgage payments after Synthia became disabled and Nell lost her job. Synthia has been forced to move into assisted living because of the stress of threatened eviction. After spending over two years and hundreds hours pursuing an affordable mortgage payment through the loan modification process, Chase foreclosed on their home. Freddie Mac as the investor could have approved loan modifications to make her home affordable but instead they allowed Chase to foreclose.
- Now Freddie Mac is trying to evict Nell. They have threatened to change the locks even though the legal question of their right to evict is not resolved. Nell and Synthia have already paid over 2/3 of the value of their home but face being made homeless and being left with nothing. Even at this late stage Freddie Mac could still agree to transfer the home to a community land trust so that it is under community control, affordable now and in the future. Community Land Trusts are non-profits that sell homes below market rate to help people of modest means have affordable loans. The home owner then agrees that when they sell it they will accept a limited amount of equity so it affordable in the future.
- Help Nell and Synthia save their home! Why? Because we need our homes more than Big Banks, Freddie or Fannie need one more!