Saturday, February 09, 2013

Outside Pressure Causes Bankster To Come Clean, Admit Escrow Screw-Up That Wrongly Triggered Loan Default & Subsequent Foreclosure Sale On 91-Year-Old Widow/Veteran's Home

In Pasadena, Texas, KTRK-TV Channel 13 reports:
  • Severina Wilson is a 91-year-old widow, and a veteran of both World War ll and Korea. And through no fault of her own, she was about to lose her Pasadena home.

    On Friday, widow and veteran was to be evicted from her home but she had done nothing to lose it. Proving it was another matter, until some lawyers with hearts and a bank willing to correct the mistake intervened.

    Wilson has seen a lot in her life. She served in the Army during World War II and during the Korean War, she was assigned to the Marines. What she never expected to see was a foreclosure notice. "And I got the letter the house had been sold," she explained to Eyewitness News.

    Last year, Chase Bank refused Mrs. Wilson's mortgage payments because there was an escrow problem -- and not of her making. Her proof of insurance was never passed on by the branch bank to the mortgage division. That triggered a default, so her home was sold to Fannie Mae, and she can't take surprises. "I have a heart condition and they say if I get too stressed, I could have a heart attack," Mrs. Wilson said.
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  • Chase Bank issued a statement Tuesday afternoon saying, "We have resolved Mrs. Wilson's mortgage situation so she can stay in her home permanently."