Families Rally to Stop Evictions by Wells Fargo, 8 months after AG settlement

CHICAGO 4/22 – After unsuccessful attempts to get Wells Fargo to accept his offer to repurchase his home, Aaron Vaughn will lead a rally outside the Northside offices of Wells Fargo Home Mortgage company. A single father from Chicago, Mr. Vaughn has repeatedly sought to negotiate an agreement that would keep his family in their home, but has been unable to get a response to his numerous letters and phone calls. These failed efforts also include attempts to get assistance from the $125 million settlement agreement between Wells Fargo and the IL Attorney Generals office. Reached in July 2012, the settlement is supposed to provide restitution

Vaughn, a resident of Chicago’s Chatham neighborhood, lost his job in 2010 and found himself in an “underwater” mortgage, where he owed more on his home than it was actually worth. Over the past three years, he has tried to avail himself of various options that would prevent his family from getting evicted, from a loan modification to a short sale, but none have been successful. Following the sale of his home, Vaughn is currently employed and has made numerous offers to repurchase the home, but has received no response from the bank.

“I probably would not have lost my home to foreclosure if I had not been pressured into a mortgage with an inflated property value and a predatory interest rate,” explained Vaughn. “Now my family finds itself facing the possibility of being put out of our home, in spite of what we have tried to do to avoid an eviction.”

Eight months ago, the IL Attorney General and the U.S. Department of Justice settled a suit brought against Wells Fargo over allegations that the company systematically steered borrowers of color like Mr. Vaughn into subprime mortgages more frequently than their white counterparts and charged borrowers of color more money for their mortgages than their white counterparts. Although millions of dollars from this settlement were supposed to go towards providing restitution and assistance to families like the Vaughns, they have seen little help. Instead, it seems like Wells Fargo has continued to treat these families as it has in the past.

Other local families facing eviction by Wells Fargo will join the Vaughn family at this picket and press conference include a disabled homeowner from the Chatham area, an elderly family facing eviction from the home their landlord lost to foreclosure, and a widow from the Joliet area.

What: Rally and Press Conference

Where: Wells Fargo Home Mortgage, 511 W. North Ave, Chicago, IL

When: April 22, 2013 at 11 am

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About 900poundgorilla

W.C. Turck is a Chicago playwright and the author of four widely acclaimed books.His latest is "The Last Man," a prophetic novel of a world ruled by a single corporation. His first novel, "Broken: One Soldier's Unexpected Journey Home," was reccommended by the National Association of Mental Health Institutes. His 2009 Memoir, "Everything for Love" chronicled the genocide in Bosnia and the siege of Sarajevo. His third book "Burn Down the Sky" is published exclusively on Amazon Kindle. It was in Sarajevo at the height of the siege where he met and married his wife, writer and Artist Ana Turck. FOX NEWS, ABC, CBS News, the Chicago Tribune and The Joliet Herald covered their reunion after the war. He helped organized relief into Rwanda during the 1994 genocide. Turck has been a guest on WMAQ-TV, WLS in Chicago, WCPT, WBBM radio, National Public Radio, Best Of the Left and the Thom Hartmann show. He has spoken frequently on Human Rights, Genocide and Nationalism. In 2011, his play in support of the Occupy Movement, "Occupy My Heart-a revolutionary Christmas Carol" recieved national media attention and filled theaters to capacity across Chicago. He remains an activist to the cause of human rights and international peace. View all posts by 900poundgorilla

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