A courageous family is taking on the big banks to save their home -- and they urgently need your help to win.
Sign the petition and tell Freddie Mac and Chase Bank to work with Arturo's family to let them keep their home.
Arturo de los Santos is a 46-year-old former Marine who lives with his wife and four children in Riverside, CA. For almost a decade, Arturo and his family have lived in their three-bedroom house next door to their kids' elementary school, a dream made possible by Arturo's job as a supervisor in a Santa Ana metal factory, where he has worked for over 21 years.
But in 2008, as a result of the economic crash, business at Arturo's factory plummeted and Arturo's hours were sharply reduced. Like millions of Americans, Arturo's reduced income made it difficult for him to make monthly payments, forcing him to apply for a modification to his loan, which is owned by Freddie Mac and serviced by giant Wall Street bank JP Morgan Chase.
The bank gave Arturo the runaround in a cruel way. In order to get the loan modification, he was instructed to deliberately fall behind on his payments. Then, because he had followed these instructions, Chase foreclosed Arturo's home and last year evicted his family -- even after Arturo notified the bank that his income had recovered and that he was able to make the original payments. By this point, Arturo had applied three times -- and been rejected three times -- for a loan modification that he qualified for.
After watching their house sit vacant for months with no buyers, Arturo and his family decided to move back into their home in December and enroll their children back into their school. Their situation is dicey -- they could be re-evicted at any moment.
We've started a petition calling on the top bank executives at Freddie Mac and Chase California to stand down and allow Arturo's family to keep their home, make their payments, and rejoin their community. It's crucial that we collect as many signatures as we can to show that the country is watching. We need to act before it's too late and Arturo's family is once again removed from their home.
Let's put Chase's and Freddie Mac's treatment of Arturo's family into perspective.
Both corporations have been beneficiaries of massive bailouts paid for by American taxpayers. And both corporations have been involved in major executive pay scandals. For them to not work with struggling American families who have been hit by the economic crash -- a crash which they played a major role in causing, and from which they recovered with the aid of our tax dollars -- is outrageous.
But it gets worse. A news investigation last week revealed that Freddie Mac has been investing billions of dollars in securities that bet against homeowner's ability to refinance their loans. The investigation revealed that Freddie Mac has been seeking to profit from Americans' failure to refinance their homes while at the same time tightening credit standards which make it harder to refinance.
Enough is enough. Arturo and his family are staying put and facing the threat of arrest in order to stand up for millions of Americans who are being victimized by the greed and callousness of corporations like Freddie Mac and Chase. The Alliance of Californians for Community Empowerment (ACCE) has jumped in to provide critical support for Arturo and his family, along with Occupy LA, Occupy Riverside, and many neighbors and community members. They've got the attention of the bank executives. Let's make sure Chase and Freddie Mac know that the whole country is watching.
Thank you for taking a stand, Ian, Van, Natalie, Billy, Jim, Somer and the rest of the Rebuild the Dream team