Letter to Gloria Allred, Attorney At Law

11/05/2009

Mrs. Gloria Allred, Attorney At Law
6300 Wilshire Blvd Ste 1500
Los Angeles, CA 90048-5217

Dear Mrs. Allred,

This comes to you as an urgent plea for help on behalf of my mother who is an 86 year old homeowner. She has been caught up in a mortgage crisis that needs immediate intervention. Her home was built in 1926 and has been in our family for 83 years. This matter is in need of the appropriate attention and exposure it deserves. I am trying to get her the necessary help that she needs to spare her from loosing her home and to restore her retired life and wellbeing. To this point her mortgage servicer J.P. Morgan Chase has not been willing to assist her and we have been working on this matter non-stop for the last six months now. Chase has failed her and has been uncooperative in helping her to stay in her home. They rather do nothing at all but to deliberately cause her to go into complete default. At which time foreclosure proceedings will follow. Time is running out because on December 1^st her existing mortgage will re-cast and the rate will adjust to a higher payment of which she cannot afford.  This has been reiterated for the last six months in trying to get help. They have offered no solutions of any kind to assist her in this matter. We have been told that the only way we can get any attention on this matter is if she was 30 days or more behind. Because she is a responsible homeowner she wanted to come forward ahead of time to find a solution.

Channel 7 Eyewitness News aired coverage in Feb. 2009 introducing a new Homeownership Center located at 400 N. Brand Blvd., Glendale, CA set up to assist customers with trouble mortgages. Upon going to this center for the last six months in trying to negotiate for a solution; what a waste of time it has been. They advertise their motto, “Your house is your home. We want to keep it that way.” Then how is it that now after six months we have gotten nowhere with this bank offering solutions. This bank needs to be exposed for what it is.

We have been in contact with Generation Mortgage, a leading reverse mortgage company, who is trying to assist and facilitate a new loan that will enable my mother to remain in her home and avoid foreclosure measures. With this being the only option left to spare her from foreclosure, we’re still now trying to negotiate a solution by submitting a proposal to the Loss Mitigation department for a short payoff due to declining market values and even now we’re not getting anywhere being passed from one department to another. Due to declining market values and my mother’s limited Social Security income a reverse mortgage is the only option left since conventional financing has been restricted. A reverse mortgage has no income, credit or health qualifications making it the only loan my mother and most seniors can qualify for in the current mortgage crisis.

Enclosed is our story and all other pertinent information for your review. You can also follow us on our blog at www.HelpASenior.org. As I am sure you know my mother is not the only senior in this situation. This problem is widespread and is something that is happening to tens of thousands of seniors nationwide. The time has come to expose the banks best interest is of their own and not of their customers. Especially retired senior citizens that have limited options available to help them. Our intention is to attain the necessary local and nation media coverage both in print and live media coverage.

With the appropriate help and exposure I am trying to help my mother solve her immediate needs and then expose the real problem to make a difference and help give a voice to a population of seniors that generally do not say anything because of pride and or embarrassment. This problem is not only on a local level but also on a national. “The Greatest Generation” has made it through a lot and what a shame it is to allow such a thing to happen them. Something needs to be done…

We have followed you throughout the years of your legal cases and you set the standard in getting results and being heard through the mainstream media. We respect what you have been able to do for people and their causes and hoping you will consider our need of cause to be an important one.    

We are requesting of you to assist us in this cause and to please consider helping us expose this issue for what it is. We would like to make an appointment to meet with you directly to discuss this matter further. Please contact us at your earliest convenience.  

Thank you,

Shawn & Betty