Monday, March 18, 2013
She bought the house in 1998 for just over $70,000 with a mortgage from Countrywide.
and fell behind on her payments. As a senior in her 60s, she found it increasingly
difficult to find employment. When the bills started to pile up, she contacted Bank of
America, who had acquired Countrywide earlier that year and now serviced her loan. In
August of 2009, despite her best efforts to work out a modification with them, Bank of
America sold her home on the Dekalb County courthouse steps.
It was only after the foreclosure that Mildred realized her loan was part of a securitized
trust overseen by US Bank. As was the case in most foreclosures filed in 2009, the
documents used to take her home were fraudulent and robo-signed. For years she
fought to have the foreclosure rescinded, going back and forth between Bank of
America and US Bank, who both refused to claim responsibility.
In 2012 she even submitted her case to the Independent Foreclosure Review Board,
which was created as part of the $25 billion settlement with the state AGs, promising
relief to homeowners foreclosed on between 2009-2010. The process turned out to be a
waste of time, and in November, she was evicted from her home. Not surprisingly, just a
couple of months later, after little to no relief had reached homeowners, the OCC
declared the Independent Foreclosure Review Board a failure and did away with the
program all together.
Once inside, an assembly line was set up to bring her belongings inside and people began to clean up the mess left by the eviction crew, and from the home sitting empty
Stone Mountain, and as Mildred emotionally stated earlier in the day, she's not homeless.