Вы находитесь на странице: 1из 2

Keep the House Until You Die; Palma vs.

Goliath
Testing the absolute power of todays banking industry. Feeling over powered and over whelmed, what chance do the little people have? Ms. Palma is a frail 74 year old lady weighing in at 98 pounds, with a strong heart and a good sense for whats right and wrong. Not really a fair boxing match, but you go with what youve got. Ms. Palma got a loan from Wamu, in December 2008 her payment increased considerable. She knew she couldnt make the payments on her fixed income. That when she started her proactive fight to work something out with the Bank. She has attempted to modify her loan three times since April 2003. Each time providing a huge package of information requested by the Bank, and all the ensuing updates, countless calls to an array of new voices professing to represent the bank, they all sound so young. On the eve of losing her home, the third time in June 2009 was very promising conference call, so she thought. After completing all the request information again, Ms. Palma June 3rd 2009 conference in our office went very well. Brenda, the Wamu representative confirmed there would be no sale and Ms Palma could keep her home. The pending sale was stopped and the Bank had agreed to a simple solution that would allow her to stay in her home and make payments again. Brenda provided assurance that all the necessary paperwork was being sent directly to Ms. Palma via registered mail, and she should expect that packet in a couple of days. Brenda said rest assured that I will order and implement the hold of the Trustees Sale. The Trustees sale would be taken off calendar within 72 hours and she would be receiving the loan modification approval documents as discussed and approved. Unfortunately, the mail never came. On June 11th, we checked on the status again and were informed by Michell, another Wamu representative that the file was mistakenly assigned to the wrong negotiator. Michell escalated the situation to her supervisor for proper handling. With that proper handling, a Coldwell Banker real-estate broker arrived on June 16th to let Ms. Palma know the property was sold the day before, on June 15th. The bank had pulled a fast one and actually foreclosed on her and took title to the property, instead of sending the promised modification. Ms. Palma with limited means again request the support of our Firm to help her fight one of the most powerful Banks in the world. So begins another saga, with a Federal Lawsuit filed on July 10th, 2009 and a request for a jury trial. Summons were issued to Wamu and BofA. The complaint was amended and served again on Wamu and BofA. Neither Banks responded, not even an acknowledgment, not a nothing. On October 10, 2009 our motion for entry of default was filed, time had run for the banks to respond, and they had not. A hearing was set for January 8, 2010, again there was no appearance by the Bank, and the Default judgment was signed by the Honorable Judge Jeremy Fogel on January 11, and the case was Closed. Along with the default judgment, the Judge added a footnote, The Court is perplexed by Defendants failure to defend this action; in the Courts experience, these particular Defendants always respond to actions of this kind. However, because Plaintiffs documents appear to be in order, the Court is constrained to grant Plaintiffs motion for default judgment. Sounds too good to be true. In to April now, the Bank finally takes a breath and speaks to the court for the first time to acknowledge the case and to request the court set-aside the default judgment. The Bank reasons they had missed the whole case, done nothing, and their conduct completely excusable, as provided by law. At the hearing, the Banks attorney vividly recalls receiving the Notice of default, and acknowledges intentionally doing nothing. It seems as though, he was pressured into doing nothing simply because he couldnt figure out

which bank he worked for. Or for that matter, which bank was responsible, every one was point the finger at everyone else. Meanwhile Ms. Palma is standing in the corner waiting for common sense to prevail. When the Bank was asked why they didnt even appear at the hearing in January, some 6 months after the case was filed, they responded with a comment that they didnt know what was going on within the Bank(s). The Banks attorney simply didnt feel it would be appropriate to contact the Court between July 2009 and March 2010, because it simply took that long to figure out what was going on with the bank, the loan, etc. Part of the issue, as explained by the Bank, was all the vacations and holidays around that time of the year, along with finger pointing and waiting for return calls, it simply took that long to figure out what was going on. Now we wait for another hearing, which was scheduled for August 27, and has been continued until next week. Several recent offers include: 1) need more documents, 2) need more document, 3) Sell and split proceeds, 4) Life estate. On July 29th indicates the Bank needs more documents if we are to accomplish anything signed affectionately DICTATED BUT NOT READ. As if all the other documents werent enough, now were to start again. On August 22nd the Bank indicates they have unconditionally offered to negotiate a loan modification but Plaintiff must provide the bank with more information from a checklist. The same information already sent to the Bank three prior times. Ms. Palma also offered to try and sell the property and split the proceeds in some meaningful way. The Bank responded with the terms were not acceptable to the bank, because the bank would require further financial information from plaintiff, information from the prospective buyer, an appraisal, other documentation pursuant to short sale procedures. More of the same double-talk, she needs to know if the Bank is open to the idea first, before wasting a considerable amount of time trying to sell the property. The latest offer by the Bank is a potential Stand Still agreement. Effectively, the Bank would Stand Still until Ms. Palma Dies. Sounds like a pretty brutal offer. This would allow Ms. Palma to stay in the house for the rest of her life, as long as she still lived there, and when she dies, the loan is due. The mortgage might be 30% of her gross income.

Вам также может понравиться