Who Is Affected ?

Larry Bradshaw, Fort Myers, Florida
September 26, 2014
Terri Duhon – JP Morgan Chase
October 18, 2014

Who Is Affected ?

It is only one house. Why do you care? Who is affected by this foreclosure other than the deadbeat homeowner? This is an actual conversation that I had with someone who works for one of the largest banks here in Austin, Texas. The job of this individual pertained to documentation of foreclosure paperwork. Unfortunately, he could not see past his job.

The answer my friends is that we are all affected in one way or another. Saving one home from a foreclosure is the same as saving the entire community. The wrong doings of a wrongful foreclosure affect the community as a whole. We as a society have deemed that part of the American dream as to owning a home and the raising of a family. To become part of the community is what was strived for. To be able to be a part of society and be productive in it is vital to the integrity of society as we know it.

In addition to the loss of wealth of the home for the homeowner, the community loses as well. That is one less family spending money in the community, less income for the local businesses as well. With less money being spent in the community there is a chance of loss of jobs within the business community. The stigma of having houses that have been foreclosed upon in the neighborhood creates an atmosphere of uneasiness as with many of these properties come vandalism, crime sprees and squatters. In some communities I have driven down streets with more than a dozen foreclosed for sale signs out in the yards within a single block. This does not help the community.

Along with the empty homes within the community there is a loss in value within the other homes for blocks around. This value is both monetary and socially. The children of the families who have lost their homes have a burden that they now carry with them and that they must overcome. They are no longer a part of that society that had the American dream to hold on to.

It is not about getting a home free and clear, it is about righting what is wrong and coming to a viable solution for all. There is nothing wrong with securitization as long as the rules have been followed. This is where the web is woven to confuse and deceive the borrower as to what was to happen, what did happen and what did not happen in the quest to acquiring the rights to a particular property. The problem is that the courts will hold the homeowners feet to the fire regarding their legal obligations to the mortgage loan instrument, while large banks are excluded from their legal obligations of properly acquiring rights pertaining to title of property. We are all affected by the results of foreclosure. The question becomes what are you going to do about it? Do not stop fighting as the fat lady has not yet sung.

Respectfully,

Joseph Esquivel

Mortgage Compliance Investigators

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