To: Jamie Dimon, CEO, JPMorganChase
Tell Chase: $13bn penalty means stopping foreclosures
Home Defenders League
Halt foreclosures and negotiate fair, prompt mortgage modifications to help restore the home equity and community wealth your reckless actions have destroyed.
Why is this important?
The Department of Justice is leading negotiations with JPMorganChase right now, specifically for selling the toxic mortgage backed securities they and other Wall Street criminals used to destroy our economy and steal our homes. The reported amount is a record-setting $13 billion. $4 billion is designated for relief to homeowners.
While this settlement will only recoup a small part of the damage JPMorganChase and Wall Street caused, it is promising that this time, according to news reports, U.S. Attorney General Eric Holder refused to negotiate away the right to criminal prosecutions.
JPMorganChase is finally negotiating around its misdeeds that helped crash the housing market and world economy. Now it is time for them to stop foreclosures and instead work with people whose lives are still reeling from the crash:
Jaymie Kelly of Minneapolis has paid for her house five times over but has been left underwater after being duped into a predatory Chase loan.
Chetti McAffee of Seattle fell behind on her home loan only after Chase bank told her she had to in order to apply for a modification.
Ana Ramos in San Francisco was left deeply underwater after Chase and its subsidiary Washington Mutual continually “lost” her paperwork and refused her payments.
One of the reasons that Chase is facing this record penalty in the first place is because of work by the Home Defenders League and others to push the Obama Adminstration to stand up for struggling homeowners and foreclosure victims.
In March, when Attorney General Holder testified before Congress that Wall Street banks couldn’t be prosecuted because of their outsized wealth, people like you joined with 333,000 others from Action for the Common Good, CREDO, MoveOn, Campaign for America’s Future, and the Courage Campaign to demand the Obama Administration end “Too Big to Jail”. Some of you helped deliver those petitions to US Attorneys in cities across the country. And you stood with 500 home defenders from around the country who risked arrest at the Department of Justice in order to demand accountability for Wall Street criminals in May. That action ended with 28 arrests and non-violent protestors tazed, while seven more were arrested at the high-end Wall Street law firm Covington and Burling protesting the revolving door between the DOJ and Wall Street. Then just two weeks ago over 500 of you called AG Holder’s office demanding a strong deal with Chase. You and people like you are true warriors for justice.
That kind of action is why this settlement isn’t really a “relief” unless it helps people like Jaymie, Chetie and Ana. They are all able and willing to pay on a fair mortgage that reflected the current market value of their homes. Really, it’s the least Chase Bank can do.
Tell Chase CEO Jamie Dimon: It’s time to fix what you broke. Halt foreclosures in the wake of negotiating this settlement. Then give a fair mortgage modification - no more run around - to restore home equity for underwater homeowners across the country.
While this settlement will only recoup a small part of the damage JPMorganChase and Wall Street caused, it is promising that this time, according to news reports, U.S. Attorney General Eric Holder refused to negotiate away the right to criminal prosecutions.
JPMorganChase is finally negotiating around its misdeeds that helped crash the housing market and world economy. Now it is time for them to stop foreclosures and instead work with people whose lives are still reeling from the crash:
Jaymie Kelly of Minneapolis has paid for her house five times over but has been left underwater after being duped into a predatory Chase loan.
Chetti McAffee of Seattle fell behind on her home loan only after Chase bank told her she had to in order to apply for a modification.
Ana Ramos in San Francisco was left deeply underwater after Chase and its subsidiary Washington Mutual continually “lost” her paperwork and refused her payments.
One of the reasons that Chase is facing this record penalty in the first place is because of work by the Home Defenders League and others to push the Obama Adminstration to stand up for struggling homeowners and foreclosure victims.
In March, when Attorney General Holder testified before Congress that Wall Street banks couldn’t be prosecuted because of their outsized wealth, people like you joined with 333,000 others from Action for the Common Good, CREDO, MoveOn, Campaign for America’s Future, and the Courage Campaign to demand the Obama Administration end “Too Big to Jail”. Some of you helped deliver those petitions to US Attorneys in cities across the country. And you stood with 500 home defenders from around the country who risked arrest at the Department of Justice in order to demand accountability for Wall Street criminals in May. That action ended with 28 arrests and non-violent protestors tazed, while seven more were arrested at the high-end Wall Street law firm Covington and Burling protesting the revolving door between the DOJ and Wall Street. Then just two weeks ago over 500 of you called AG Holder’s office demanding a strong deal with Chase. You and people like you are true warriors for justice.
That kind of action is why this settlement isn’t really a “relief” unless it helps people like Jaymie, Chetie and Ana. They are all able and willing to pay on a fair mortgage that reflected the current market value of their homes. Really, it’s the least Chase Bank can do.
Tell Chase CEO Jamie Dimon: It’s time to fix what you broke. Halt foreclosures in the wake of negotiating this settlement. Then give a fair mortgage modification - no more run around - to restore home equity for underwater homeowners across the country.