PRESS KIT ! #ResistWellsFargo Campaign!

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April 1, 2014!

Press Release!

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By Karen Gargamelli, Common Law, Inc. ! karen@commonlawnyc.org ! 212-213-3920! New York City On April 3, 2014 homeowners ghting foreclosure will hold a candle-light vigil outside of Wells Fargos headquarters in Midtown Manhattan, bringing to light how the nations largest loan servicer destroys communities of color in NYC. ! Even though New York State Attorney General Eric Schneiderman sued Wells Fargo last year for violating National Mortgage Settlement terms with impunity, Wells Fargo continues to lose homeowners loan modication applications, constantly demand new and different documents, and provide vague reasons for denying modications. ! Its homeowners who foot the bill for delays in the modication process, explains Jay Kim, Esq., a foreclosure prevention attorney at non-prot Common Law, Inc. When a modication application is ignored or denied, Wells Fargo collects servicing fees and the homeowners debt increases. ! For example, Verjie Princes wife passed away in 2000. Although it was difcult, he made his mortgage payments on their Cambria Heights home by himself until he became ill in 2012. Wells Fargo rejected his loan modication application because his deceased wife is the only person who could modify the loan. After spending two years submitting death certicates and proof that he is the executor of the estate, he now owes Wells Fargo an additional $50,000 in fees and interest accrued. !

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Mr. Davis-Clarke, also of Cambria Heights, Queens, has tried to modify his subprime loan for years. His interest rate varies between 9% and 16%. He worked with non-prot agencies to obtain a modication. Wells Fargo, however, lost his applications and dragged out the process by asking for updated documents. Because Wells Fargo never timely processed his modication applications, he owes twice as much as what the house is worth. ! Last week news of a Wells Fargo corporate manual directing attorneys to forge foreclosure paperwork conrmed what homeowners already knew: Wells Fargo intentionally pushes borrowers into foreclosure rather than modify loans. !

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Audrey Wilkens of Bed-Stuy, Brooklyn knows Wells Fargo can modify loans, but chooses not to. In early August 2009, Wells Fargo offered Ms. Wilkens a special forbearance plan (temporarily reducing her payments) beginning on September 1, 2009. Without warning, however, on August 27, 2009 Wells Fargo led a foreclosure action. When she reported the error to Wells Fargo, its representatives said there was nothing they could do to stop the foreclosure. !

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Wells Fargos brazen refusal to modify loans has taken its toll on New York Citys neighborhoods of color. Despite a massive taxpayer bailout that enabled the company to reap nearly $22 billion in prots last year, Wells Fargo continues to engage in abusive and discriminatory practices that are seriously harming low income communities and communities of color, said Josh Zinner of The New Economy Project. ! These homeownersand the many morehave had enough! Organized as Foreclosure Resisters, they will take to the streets this spring to resist foreclosure and eviction, stand up to Wells Fargo and call for fair and affordable loans. ! Monica Gomez of Queens Village, whose children are actively serving in our military and who has been ghting Wells Fargo for years, is resolved: Three generations of our family call this home. We arent going anywhere. ! Details: April 3, 2014 at 7pm, Wells Fargo Headquarters, 150 E. 42nd St, NY, NY!

About Us

Foreclosure Resisters are homeowners facing and ghting foreclosure in New York City. After meeting at a foreclosure prevention legal clinic run by non-prot Common Law, Inc, they formed a supportive community. www.foreclosureresisters.org !

Common Law, Inc. is a non-prot organization dedicated to providing free legal education. Common Law attorneys operate a weekly legal clinic for homeowners in foreclosure who are representing themselves (pro se). www.commonlawnyc.org !

Meet the Resisters ALVIN

Cambria Heights, Queens |"Homeowner since 2006!

I live in my home with my wife and our two daughters. I have tried for years to modify my subprime loan, which has an interest rate that varies between 9% and 16%. I was desperate to keep my home. I ended up paying thousands of dollars to private attorneys and rescue scam companies who just took my money and never helped me. I eventually started working with non-prot agencies that tried to help me get a modication. Wells Fargo, however, kept losing my applications and dragged out the process by asking for new and different documents. Because Wells Fargo never timely processed my modication applications, I owe twice as much as what my house is worth. What I want is a principal reduction modication. I want Wells Fargo to know that I will ght until this happens for me and other Resisters! #ResistWellsFargo

AUDREY

Bedford-Stuyvesant, Brooklyn |"Homeowner since 2003!

I live in my home with my two sons."I have all but begged Wells Fargo to review me for the Home Affordable Modication Program."I have called them regularly and sent in numerous loan modication applications since I lost my job in 2008."Wells Fargo has just given me the runaround and has never offered to help."In August 2009, Wells Fargo nally offered me a forbearance plan that would have temporarily reduced my monthly mortgage payments."My rst payment under this plan was not due until September 1, 2009."On August 27, 2009, however, Wells Fargo foreclosed on my house."I was blown away at how Wells Fargo disregarded our agreement and foreclosed on me anyway."Today, I owe much more than what my house is worth so I am demanding a principal reduction modication from Wells Fargo."I want Wells Fargo to know that I am prepared to ght for my home until the end!"#ResistWellsFargo

VERGIE

Cambria Heights, Queens |"Homeowner since 1994!

My wife passed away in 2000. Although it was difcult, I made my monthly mortgage payments by myself until I became ill and fell behind in 2012. I contacted Wells Fargo and requested a loan modication. Wells Fargo rejected my loan modication application and told me that my deceased wife was the only person who could modify the loan. I have spent the last two years begging Wells Fargo to acknowledge that my wife passed away and that I am the sole mortgager. I have tried to tell Wells Fargo that I alone have paid the mortgage for over ten years but Wells Fargo refuses to listen. When I fell behind, I only owed $90,000 on my mortgage. Now I owe close to $140,000 because Wells Fargo is refusing to let me modify. I want Wells Fargo to know that I deserve a principal reduction modication and I am not leaving my home! #ResistWellsFargo

MONICA
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PHOTO UNAVAILABLE

Queens Village, Queens |"Homeowner since 2006!

I live in my home with my husband, our sons, our granddaughter, and my elderly parents. One of our sons is in the Marines and another son is on active duty with the Army. I have been trying to work with Wells Fargo to save our home for years. Its been very frustrating to work with Wells Fargo because they constantly give me the runaround and lose my loan modification applications. Because of Wells Fargos delays, my home is now severely underwater and I owe almost double what my house is worth. I want Wells Fargo to know that four generations of my family will be displaced if it continues to ignore my requests for a loan modification. I am not giving up until I receive a principal reduction modification! #ResistWellsFargo