Banks Bully the Disabled

 

          Stop the Banks from BULLYING the Disabled!

 This story is a classic case of bullying at its finest. In 2015, there are many families still trying to recover from the unfortunate situation of foreclosure. This is what Mr. Kayode Hamed of Richmond Texas was experiencing in October 2011 when he applied for a loan modification with his bank, Bank of America, through Save Your Properties, Inc. located in Houston Texas. Mr. Hamed was approved for the loan modification, which granted him time to recover and resume payments at a later date. However, in 2012, Mr. Hamed suffered a stroke that left him paralyzed and confined to a wheelchair for the remainder of his life. Needless to say, this life altering event caused him to fall behind again on his mortgage payments. Therefore, Mr. Hamed applied for a forbearance plan that would give him 12 months, place his loan on hold, and allow him time to reestablish himself. Ultimately he planned to begin a new loan modification in 2013.  

Mr. Hamed's life has clearly changed completely.  He is now permanently disabled and living on a fixed income. In two years, he did not receive any correspondence or phone calls from the mortgage company concerning his mortgage. On March 15, 2015, Mr. Hamed was made aware that on January 8, 2013, CITI Mortgage sold his home in a foreclosure. How could this be when the original lender was Bank of America? Yes, Bank of America transferred Mr. Hamed’s mortgage to CITI Mortgage sometime in 2012. This sale transpired without Mr. Hamed’s knowledge. He was not notified by neither Bank of America nor CITI Mortgage, as required by law. CITI Mortgage would have also been required to inform Mr. Hamed of a Notice to Accelerate the loan for foreclosure due to delinquent payments. Mr. Hamed was not notified of this action either. Usually, a sale date is scheduled thereafter, followed by a foreclosure and lastly, eviction! These are the proper legal steps that should have taken place, but none were executed in this matter. 
Mr. Hamed owed $192K on his home, but the property sold for approximately $410K!

Now, Mr. Hamed does not dispute that he owes money for the house that he has and is currently occupying. CITI Mortgage wants Mr. Hamed evicted immediately! Mrs. LaTrice M. Gault, of Save Your Properties, Inc. asked Judge Kenneth S. Cannata to please grant Mr. Hamed an appeal of 90 days to raise the funds to save his home. Thanks to Judge Cannata, who granted the motion. The case is due to be heard in a higher court of law.
Mr. Hamed’s concerns are as follows:

Where is the extra $208K that the house was sold for?
Why was the legal due process not initiated and executed on his behalf?
Why would it take the mortgage company two years, from 2013 to 2015 to notify a borrower of foreclosure? What is the bank hiding? 

The goal is to raise $200K to completely pay off the loan without interest so Mr. Hamed will own his home free and clear. The life altering event that left him paralyzed has naturally affected and changed life as he knew it. His monthly income is less than $1000, which includes the help of friends and family.

Please help Save Your Properties, Inc. STOP the banks from bullying the disabled and help this disabled man keep his home.

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