To: Bank of America
Save Grace's Home from Bank of America's Bad Math!
Bank of America your math is bad – real bad! In a letter to Grace Alexander, a 57-year-old Newark grandmother, you offered to “help” her save her home from foreclosure, but your offer proposed to increase her monthly mortgage payment by more than $200!
Give Grace Alexander a principal write-down on her mortgage so she can keep the house she’s called home for the last 12 years.
Give Grace Alexander a principal write-down on her mortgage so she can keep the house she’s called home for the last 12 years.
Why is this important?
Grace Alexander, a 57-year-old grandmother from Newark, is struggling to save her home from Bank of America's foreclosure process. For more than two years, Grace has battled the big bank...and for more than two years Bank of America has given her the run around.
Paperwork, phone calls, meetings…and even protests…have been met with nothing more than the runaround leading to wholly unrealistic offers from Bank of America. The greedy Wall Street bank’s most recent communication with Grace is a clear demonstration that they simply don’t care about Grace or the four generations of her family who have called the Newark house their home for the last 12 years.
In a letter dated February 13th, 2013, Bank of America sent Grace Alexander an offensive reply to her request for a mortgage modification to save her home. Instead of working with her, Bank of America offered to INCREASE her monthly mortgage payment in a letter that began “You are on your way to a more affordable mortgage payment.”
"I work for a living and I can pay a mortgage," says Grace. "But I cannot afford the inflated mortgage that I've been forced into, and I certainly can’t afford an increase to my monthly payment! Bank of America has the power and authority to save my home with the stroke of a pen. In fact, banks have the power to save the homes of all 100,000 NJ homeowners facing foreclosure this year by simply working with homeowners on principal write-downs."
Surely Bank of America can do better for Grace – at the very least they should be better at math.
Paperwork, phone calls, meetings…and even protests…have been met with nothing more than the runaround leading to wholly unrealistic offers from Bank of America. The greedy Wall Street bank’s most recent communication with Grace is a clear demonstration that they simply don’t care about Grace or the four generations of her family who have called the Newark house their home for the last 12 years.
In a letter dated February 13th, 2013, Bank of America sent Grace Alexander an offensive reply to her request for a mortgage modification to save her home. Instead of working with her, Bank of America offered to INCREASE her monthly mortgage payment in a letter that began “You are on your way to a more affordable mortgage payment.”
"I work for a living and I can pay a mortgage," says Grace. "But I cannot afford the inflated mortgage that I've been forced into, and I certainly can’t afford an increase to my monthly payment! Bank of America has the power and authority to save my home with the stroke of a pen. In fact, banks have the power to save the homes of all 100,000 NJ homeowners facing foreclosure this year by simply working with homeowners on principal write-downs."
Surely Bank of America can do better for Grace – at the very least they should be better at math.