Protesters demand Wells Fargo do more to stop foreclosures

Listen to an audio story from Annenberg Radio News:


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.”


  1. The foreign nationals who are in the streets of America protesting are indeed illegal aliens and have no right to be here. I cannot name is single nation in the World today that would put up with foreign nationals protesting in their streets; can you? United States of America citizenry should not be subjected to these protests by illegal aliens who were not even allowed to be our nation.
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  2. Alexandr Sharon says:

    Banks really are a pain in the back. They are out there to get you and even if they see you that you can’t handle to pay them more money back, they still bog you down with more taxes. I mean, should a loaner make sure the beneficiary can return his money back with interest? I just don’t get it anymore, people are mad for money. jocuri masini and jocuri barbie

  3. Sofia Camer says:

    The authorities of 50 states prepare claims on 20 billion dollars to Bank of America, Citigroup and Wells Fargo. It can lead to crash of banks.


    Well Fargo has been lying to me. I’ve been wasting time sending them documents and they always find a problem and inconvinience to motify my mortgage with them. It’s my only property in which i live in with my two children. For two years now, I’ve been suffering with cancer but at the meantime i’ve been trying to everything possible to make arrangements with them and they really don’t care. They sent me to foreclosure and now they won’t answer my phonecalls.

  5. GeorgeAlex says:

    Banks are to help people but also to help themselves, if someone needs money, no matter how much is good to borrow even if they have given back with interest. However I have relatives who work at the bank and know something about banks.
    jocuri cu masini jocuri barbie

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