Bailed Out J P Morgan Chase Forecloses On Disabled Senior Citizen

[ridgeabilly]

STOP J.P. MORGAN CHASE'S FORECLOSURES AND EVICTIONS

Press Conference/Rally at the Home of Alma Counts, paralyzed senior
citizen facing foreclosure by Chase -

THURSDAY, MARCH 8, 2012 - 4:00 PM

19145 MARLOWE, DETROIT, MI 48235

Speakers include UAW Vice President Cindy Estrada and numerous
community leaders

Press Conference will announce Demonstration, Tuesday, March 13, 12
Noon at J.P.Morgan Chase Detroit, Headquarters, 611 Woodward, Downtown
Detroit to

Demand Not One More Foreclosure/Eviction in Michigan

Part of National Days of Action against J.P. Morgan Chase

Alma Counts is a partially paralyzed wheel-chair bound senior citizen
who lives on a fixed income. After facing a foreclosure crisis in 2008
stemming from a predatory refinance loan by the criminal Washington
Mutual Bank [[WAMU), Ms. Counts entered into a loan modification
agreement with WAMU in March 2009. Ms. Counts diligently made her
modified payments until her account was taken over by J.P. Morgan
Chase which doubled her payments and now is threatening foreclosure of
Ms. Counts.

Ms. Counts' situation is being repeated in thousands of homes across
Michigan and nationwide. At the press conference, organizers will cite
other examples of abuses by Chase: Sterling Heights homeowner, entered
into a special medical hardship payment agreement -- made payments --
house sold at Sheriff's sale; Northville widow-- husband died during
the course of the litigation from pre-existing medical conditions
while fighting to save his home from Chase foreclosure; Southfield
homeowner -- was working, had heart surgery with pacemaker inserted --
made payments on loan modification based on medical hardship and
decrease in income -- --foreclosed on by Chase; Bloomfield family --
in permanent loan modification, made 10 payments, home put in
foreclosure.

Despite a federal Consent Order last year with the Comptroller of the
Currency in which Chase committed to an action plan to eliminate
fraudulent foreclosure practices including implementing a program of
"special forbearances and modifications," and the recent "settlement
agreement" with the federal government and 49 attorney generals in
which J.P. Morgan Chase and 4 other major banks acknowledged their
fraudulent practices, J.P. Morgan Chase and the other banks are
continuing to deny loan modifications and throw families out of their
homes every day.
Called by: UAW, Occupy Detroit, People Before Banks Coalition,
Moratorium Now! Coalition, Metro Detroit AFL-CIO, Jobs with Justice

There will also be an Organizing Meeting and Free Legal Clinic to for
those fighting foreclosures on Saturday, March 17, 2012, 11:00 am to
1:00 p.m. at UAW Local 600, 10550 Dix Ave, Dearborn, MI 48120.

[ridgeabilly]

Press Conference will announce Demonstration, Tuesday, March 13, 12
Noon at J.P.Morgan Chase Detroit, Headquarters, 611 Woodward, Downtown
Detroit to Demand Not One More Foreclosure/Eviction in Michigan

[goirish1966]

This response is not a support of Chase's foreclose & eviction, but rather an explanation of its' "bailout".

J. P. Morgan Chase was one of many banks that refused Federal money because its balance sheet was solid. The Federal government forced them, along with other banks who refused the money, to take it. Uncle Sam feared that there would be o run on the banks who took money since it would give the appearance of being on shakey ground. If everyone took the money, the public would view all as in bad shape.

[EastsideAl]

It really doesn't matter whether they took the bailout money or not. Their continued pursuit of fraudulent foreclosures, their foreclosing on people who have made the proper payments under renegotiated agreements, and their casual disregard for a standing federal court order to cease these practices, is appalling. It shows them to be the worst kind of bullying corporate citizen, one with no regard for their customers, the public, or the law.

[ridgeabilly]

March 13:Tuesday Rally, noon

Chase Bank’s Main Detroit Branch
611 Woodward Avenue

The same movement that has already stopped threeforeclosures this year with picket lines and peacefulprotest will rally in support of Alma Counts, a paralyzedsenior citizen on fixed income facing foreclosure by Chase.Even after the bank signed consent agreements pledging tomodify mortgages and stop foreclosure fraud, the banknullified Alma’s previous modification and doubledher payments. Alma Counts is like thousands of othersfacing unjust foreclosure.
To save our neighborhoods from plunging home values andblight, we are calling on Chase to declare a moratorium onall foreclosures.
As part of a national demonstration against Chase, wewill gather at 11:45 am at the Spirit of Detroit statue,Woodward at Jefferson, and march two blocks to Chase Tower,611 Woodward at Congress.
A delegation will hold Chase accountable to the consentagreements it has signed with federal regulators callingfor mortgage modifications to keep people in theirhomes.

Tell JP Morgan Chase tostop foreclosures and agree to modifications that keep AlmaCounts and thousands like her in their homes.

Phone this toll free number: 888-310-7995.

[JBMcB]

Another clarification: the "bailouts" weren't meant so much to prevent banks from going under [[maybe one or two of them) but to free up the commercial paper markets that had ground to a halt. Those are the very short-term loans businesses need to operate. It was the freezing of these markets that was a major factor in the initial collapse.

[Cincinnati_Kid]

Chase or any other of these so called "big banks" don't give a _hit about people, unless you have major deposits in their bank.