Listen to an audio story from Annenberg Radio News:
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A crowd of about two dozen protesters squished their way into the bank, paying no heed to disgruntled staff and security guards. Their leaders held a letter demanding Wells Fargo participate in a state-wide program called “Keep Your Home California.” The “Keep Your Home” program is federally funded. If the bank reduces the homeowner’s principle, the program will match the difference dollar for dollar. But the protesters want Wells Fargo to participate.
Xaime Casillas was like many protesters holding their ground in the bank—he was getting closer to losing his home. Casillas welcomed his first baby last year, but when his newborn son suffered two heart attacks, he had to leave his job. He’s been in the loan modification process ever since and it hasn’t been going well. He’s angry with the banks.
“It’s like the banks have a shredding machine that you’re using to fax in all your documents to get a loan modification. And it seems like it just goes right into the shredder.”
Casillas’ lender is Chase Bank. He was so close to getting a modification, but then they claimed to not have a crucial page of the agreement and closed his case. Casillas isn”t buying it. He believes the prolonged modification process allows the bank to tack on fees and to keep the homeowner paying, rather than abandoning ship.
“Call them up. They lost this, they lost that. They don’t really care about you.”
The TARP bailout still stings for these homeowners. To them, it doesn’t seem right that taxpayers bailed out the same banks that are now denying them help.
Peggy Mears’ home is also in trouble. But she wasn’t about to give up.
“We will take it to the streets, you will see Egypt in California.”
The Los Angeles Police Department arrived later and said that a lot of police officers are also facing foreclosure. The protesters crossed the street to the Attorney General Kamala Harris’ office. They delivered 10,000 signatures demanding action against the biggest banks.
Wells Fargo released a statement that have agreed to participate in the “Keep Your Home California” program and that they will continue to work with homeowners, non-profits and elected officials to stop foreclosures.
Hai-me Caseehas was resigned but determined.
“I might lose my home, but I’m still gonna help other people keep theirs.”
