Arturo de los Santos, a 49 year old Marine, thought he was living the American dream when he and his family moved into their modest home in a California suburb a decade ago, but the recession crushed this dream.
Now Freddie Mac wants to foreclose on his home, despite their mission “to expand opportunities for home ownership.” And despite their mandate, Freddie Mac has now been accused of making investments into mortgage securities, which bet against homeowners much in the way that Wall Street banks did and directly led to the current foreclosure crisis.
De los Santos is one of the millions of homeowners affected by the economic downturn in 2008. He was working as a supervisor at a Santa Ana metal finishing company and was able to make his mortgage payments until the company cut his hours. He had trouble making his mortgage payments and asked JP Morgan, who holds a majority of Freddie Mac’s mortgages, to refinance his loan. The bank refused and told him he had to default before he could get a modification, according to the Huffington Post.
JP Morgan once again denied De los Santos a modification even though he has proof that his income has increased and he can make the required monthly payment. Now De los Santos has vowed that he will not leave his home if the sheriff comes to evict him.
This is one way to fight, but a foreclosure attorney can offer an alternative to possible arrest. An accomplished foreclosure attorney can help their client negotiate with their lender to get a modification.
Losing a home is a frightening prospect but a foreclosure lawyer may be able to keep a person from losing the home they worked so hard to purchase.
