To: Ronald Faris, President
Stop foreclosure on a 71-year-old cancer survivor
Tell the Big Banks, enough is enough! Ocwen Financial will soon be the country's largest holder of subprime loans. Ocwen is even a participant in a federal program to help modify loans for families affected by the housing crisis—but they still aren't responding.
The Mitchells are one of the thousands of families who have already lost their home or are at risk of foreclosure. The Big Banks have drained wealth from hard-working Americans like the Mitchells, and continue to dodge taxes while making record profits.
Demand that Ocwen Financial give the Mitchells the simple loan modification they need in order to keep their home.
Why is this important?
Dixie Mitchell, a 71-year-old cancer survivor, and her husband, Luster, have owned their Seattle home for 44 years. This is the same home where the Mitchells raised their nine biological children and cared for fifty foster children, and the house was paid off in full in the mid-1980s.
When Dixie needed some money to make home repairs and to help one of the foster children in her care, her bank advised her to refinance her home. Under the direction of the bank, she took out a loan that was promised would work for what she needed.
But then, the loan was bundled and resold. Soon after, Luster, suffered a massive stroke that has left him paralyzed and unable to work.
Because of the bank's changes to the loan, Dixie quickly fell behind on her payments. Without her husband's earnings, her monthly income is just $2,200 in Social Security and her monthly mortgage is $2,052.
Despite Dixie's best efforts, the Mitchells home is set to be auctioned on October 28th and they have no place to go. All Dixie needs is a small modification to the loan and she'll be able to keep her house. The problem is that Ocwen Financial, who holds the loan, just won't budge. Not because they can't, but because they don't want to.