Uncategorized

Forgotten foreclosure victims at the DNC

The responsibility that Bank of America and other large financial institutions had in the nation’s economic meltdown hasn’t been addressed enough this week at the Democratic National Convention in Charlotte, a N.C.-based Group said a protest Thursday

Outside the headquarters for Bank of America, Action NC highlighted the struggle of the Sanchez family who are at risk of losing their East Charlotte home if Bank of America doesn’t allow them to restructure their mortgage. Jessica Sanchez, 17, also suffers from spina bifida and the house has been retrofitted to accommodate her wheelchair.

“We’re asking for your help, to save Jessica’s house,” said Silva Sanchez, Jessica’s mother.

The family is trying to come up with the $20,000 they were told they needed by Bank of America to avoid foreclosure and has had car washes, donation drives and a charity barbecue they hosted in their backyard in Charlotte’s working-class Sugar Creek neighborhood.

The family fell behind on the mortgage when Jessica’s father, a construction worker, had trouble finding jobs. Bank of America has been largely unresponsive to the family’s pleas until media outlets began reporting on their plight this week, said Pat McCoy of Action NC.

The family is only one of millions caught in the same situation, while the banks that caused the housing crisis have faced few repercussions, he said.

“There are ways to fix this crisis,” McCoy said. “The banking industry needs to be investigated and held accountable.

Those looking to help the Sanchez family can contact Action NC at (704) 625-4050. Below are the Sanchez family members, Silvia and her children Jessica, 17, and Israel, 3, along with Hector Vaca with Action NC on the right.

20120906-162629.jpg

3 Comments

  1. Rachel

    September 6, 2012 at 5:24 pm

    In a climate where so many families are in danger of falling behind on their mortgage, banks should do more to work with families instead of moving into foreclosure. The Sanchez family shows that foreclosure is not just about losing one’s home but losing an investment, a way of life, and the well-being of families and especially children.

    Tell Bank of America to help families like this through mortgage resets and measures other than foreclosure!

  2. Frank Burns

    September 7, 2012 at 8:18 am

    The bank should consider, is it better to get a lower payment or no payment and can’t sell the house?

  3. Adam Searing

    September 7, 2012 at 9:51 am

    Go Frank!