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Apiil 1, 2u14

By Kaien uaigamelli, Common Law, Inc.
kaiencommonlawnyc.oig
212-21S-S92u

-./ 0123 4567 - 0n Apiil S, 2u14 homeowneis fighting foieclosuie will holu a canule-light
vigil outsiue of Wells Faigo's heauquaiteis in Niutown Nanhattan, biinging to light how the
nation's laigest loan seivicei uestioys communities of coloi in NYC.

Even though New Yoik State Attoiney ueneial Eiic Schneiueiman sueu Wells Faigo last
yeai foi violating National Noitgage Settlement teims "with impunity", Wells Faigo
continues to lose homeowneis' loan mouification applications, constantly uemanu new anu
uiffeient uocuments, anu pioviue vague ieasons foi uenying mouifications.

"It's homeowneis who foot the bill foi uelays in the mouification piocess," explains }ay Kim,
Esq., a foieclosuie pievention attoiney at non-piofit Common Law, Inc. "When a
mouification application is ignoieu oi uenieu, Wells Faigo collects seivicing fees anu the
homeownei's uebt incieases."

Foi example, veijie Piince's wife passeu away in 2uuu. Although it was uifficult, he maue his
moitgage payments on theii Cambiia Beights home by himself until he became ill in 2u12.
Wells Faigo iejecteu his loan mouification application because his ueceaseu wife is "the
only peison who coulu mouify the loan." Aftei spenuing two yeais submitting ueath
ceitificates anu pioof that he is the executoi of the estate, he now owes Wells Faigo an
auuitional $Su,uuu in fees anu inteiest acciueu.

Ni. Bavis-Claike, also of Cambiia Beights, Queens, has tiieu to mouify his subpiime loan foi
yeais. Bis inteiest iate vaiies between 9% anu 16%. Be woikeu with non-piofit agencies to
obtain a mouification. Wells Faigo, howevei, lost his applications anu uiaggeu out the
piocess by asking foi "upuateu" uocuments. Because Wells Faigo nevei timely piocesseu
his mouification applications, he owes twice as much as what the house is woith.

Last week news of a Wells Faigo coipoiate manual uiiecting attoineys to foige foieclosuie
papeiwoik confiimeu what homeowneis alieauy knew: Wells Faigo intentionally pushes
boiioweis into foieclosuie iathei than mouify loans.

Auuiey Wilkens of Beu-Stuy, Biooklyn knows Wells Faigo can mouify loans, but chooses not
to. In eaily August 2uu9, Wells Faigo offeieu Ns. Wilkens a "special foibeaiance plan"
(tempoiaiily ieuucing hei payments) beginning on Septembei 1, 2uu9. Without waining,
howevei, on August 27, 2uu9 Wells Faigo fileu a foieclosuie action. When she iepoiteu the
eiioi to Wells Faigo, its iepiesentatives saiu theie was nothing they coulu uo to stop the
foieclosuie.

Wells Faigo's biazen iefusal to mouify loans has taken its toll on New Yoik City's
neighboihoous of coloi. "Bespite a massive taxpayei bailout that enableu the company to
ieap neaily $22 billion in piofits last yeai, Wells Faigo continues to engage in abusive anu
uisciiminatoiy piactices that aie seiiously haiming low income communities anu
communities of coloi," saiu }osh Zinnei of The New Economy Pioject.

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Nonica uomez of Queens village, whose chiluien aie actively seiving in oui militaiy anu
who has been fighting Wells Faigo foi yeais, is iesolveu: "Thiee geneiations of oui family
call this home. We aien't going anywheie."

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Foieclosuie Resisteis aie homeowneis facing anu fighting foieclosuie in New Yoik City.
Aftei meeting at a foieclosuie pievention legal clinic iun by non-piofit Common Law, Inc,
they foimeu a suppoitive community. www.foieclosuieiesisteis.oig

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Common Law, Inc. is a non-piofit oiganization ueuicateu to pioviuing fiee legal euucation.
Common Law attoineys opeiate a weekly legal clinic foi homeowneis in foieclosuie who
aie iepiesenting themselves (!"# %&). www.commonlawnyc.oig

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