Unfortunately for my family, my story is much like what is happening to numerous homes & distraught families everywhere in our country. I am a single mother who bought the family home six years ago. I have never made a late payment in all these six years, sometimes working two jobs. Yes, I was taken in by the predatory practices of loan companies. It was way too easy for me to refinance every year, which unfortunately I did. The money was used to install a new environmentally correct metal roof, and pay for my son's private school education. I have not taken a vacation in over six years. Nor have I participated in lavish spending on items such as boats, motorcycles or granite counter tops for the kitchen.
When I lost my job last year (May 2008) as the Accounts Manager for a commercial real estate company with seven multi-million dollar corporations, I immediately notified Wells Fargo Home Mortgage. I explained that I would have enough funds in savings to continue payments for three months, that I was actively seeking employment and that I would phone them every two weeks in regards to my situation -- which I did, hoping to find a manner in which my family could keep our home.
To keep my spirits up during the first few months of unemployment in 2008, I volunteered for the Obama Campaign in the summer. When we won I continued to volunteer at one of our local library twice a week. I joined a reading group, networked, and sent out at least three résumé's a week (even if the company was not hiring). I've faced unemployment before, and in the past if I could not find employment I would create work by cleaning houses, cooking vegetarian food, even setting up an organic lemonade stand; however these are only temporary solutions, and with the economy in its current state even they have proven futile.
The law firm in LA Kabateck, Brown & Kellner representing the NAACP has filed a law suit against Wells Fargo Home Mortgage and wants to look at my payment history and closing documents regarding discriminatory lending practices and I am sure my home is a textbook case study for this law suit; yet it has not kept Wells Fargo Home Mortgage from taking possession of our home which will most probably remain empty, where it won't even benefit the bank.
Our neighborhood is considered a high crime area in our peaceful valley. The house next door was busted as a methamphetamine lab in January 2009 and there are hazardous toxic chemicals buried along our fence line, which killed two of our small pets. A murder was committed a month or so ago down the street due to a local gang problem. I attempted to make a difference by being the change I want to see. I single handedly raised my son in this house since he was thirteen. He graduated last year with honors from Villanova Preparatory School and has just finished his first year as an engineering major at UCSB. The majority of our neighbors have also raised socially productive children and there is a strong community effort here to help those less fortunate... "It is the nature of goodness to pour itself out."
I was and remain hopeful as I pack up our home, not knowing where I am going to put the boxes or where I am going to live. I face my day as an unemployed, homeless statistic, yet hope springs eternal and I remember to start where I am, putting one foot in front of the other, taking deep breaths when I feel defeated. Yet the injustice saddens me: Wells Fargo made a mistake and has received over $25 billion dollars to correct it. Dollars that the bank said would be used to help stop foreclosures... I see no bailout.