78 Year Old Civil Rights-Era Activist May Be Foreclosed On by JPMorgan Chase During Campaign To ‘Fulfill’ MLK’s ‘Vision’

Why This Is Important

SIGN THE PETITION to keep Ms. Bailey in her home:
http://www.change.org/petitions/chase-bank-dont-foreclose-on-helen-bailey

WHILE Chase misappropriates the memory and image of Martin Luther King this Black History Month, the bank is still going forward with its plans to foreclose on Helen Bailey on Feb. 15.

Helen Bailey is a 78-year-old grandmother who participated in the civil rights movement, worked as a childcare provider for autistic children, and was a community volunteer. She has paid her mortgage since 1999, but now she can’t keep up the payments. All she wants is to stay in her home until she dies, in the neighborhood where she feels safe and has lived for nearly quarter of a century. She could have refinanced with a company willing to let her live in the house for free until her death, but Chase Bank would not reduce her principal by $9,000. She’s been paying 7% interest, well above most rates, so Chase could have decided they had made enough. Instead, they have started foreclosure and Ms Bailey could end on the street.

Since then, Ms Bailey’s lawyer has found an alternate buyer for her home. This sale would provide Ms Bailey with an exit from her current mortgage and allow her to pursue other options for housing. We request that Chase:

· accept the offer of $85,000
· write off any deficiency between the loan balance and the offer
· waive all interest, legal fees and penalties accrued since the initial refinance offer
· cancel any foreclosure auction scheduled

It has been estimated that at foreclosure, Chase may lose over $30,000 compared to this settlement offer. Therefore this option makes the most sense financially for Chase and given Ms Bailey’s specific circumstances, there is little moral hazard in this solution.

Tell Chase that in Nashville, in America, we don’t throw elderly ladies out on the street. In Nashville, in America, we fight for what’s right. Helen Bailey marched for civil rights. It’s our turn to march for Helen Bailey.

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To mark Martin Luther King Day and Black History Month, Chase gave us all a new website saying that the company gives back to communities.

On the website, Chase says, “The values exhibited by Dr. King and embodied in his lifelong struggle for social change align with those that shape JPMorgan Chase’s approach to giving in the communities in which it operates.”

But King’s legacy is not for Chase to use to cover up their own special brand of callousness.

While Chase tries to tie itself to the incredible legacy of Martin Luther King, who really did believe in communities, Chase tries to throw a grandmother who marched for civil rights out onto the street.

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4closureFraud.org

 

Comments
6 Responses to “78 Year Old Civil Rights-Era Activist May Be Foreclosed On by JPMorgan Chase During Campaign To ‘Fulfill’ MLK’s ‘Vision’”
  1. If Chase is willing to kick out families that the husband is fighting for this country in Iraq or Afghanistan why not her? Is a disgrace!

  2. Beth A. says:

    FYI: Link to petition is not functional.

  3. Beth A. says:

    You’ve got be kidding. Chase cares?
    Chase doesn’t care….if they cared one whit, they would’ve not sold us shit mortgages riddled with fraud. They have helped set all of us up for the slaughter.

  4. gregory says:

    Wow Jp really dosent care about anyone!!!! we know this as fact… Until someone Bitch slaps Dimon, he is going to keep his head shove so far up his ass without a worry. Families associated wit MLK should demand that chase remove is picture from any advertising

  5. Stan Bromovitz says:

    Call this Pro-Bankster/Subprime Crook politician. If he’s your Senator in TN tell him he won’t be getting your vote if he doesn’t stop this tragedy:

    U.S. Senator Bob Corker
    185 Dirksen Senate Office Building
    Washington, D.C., 20510
    202-224-3344

    • on the ropes says:

      I hope this woman can get the help and support she needs , I would not put much faith in any tool that is in office . Maybe in this “feel good” situation they will step up , but what about the suicides , and marriages and families forever broken ?

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