|
Nov. 17, was a big day in the legal and financial fight to save the Parks home: Leslie’s mother, Tecora Parks, recorded a ‘quit claim’ deed to officially put the property in Leslie’s name. While Tecora had homesteaded the property to her daughter years ago, that arrangement made it harder for Leslie to get financing on her own. In any case, today’s quit claim deed opens up new avenues for securing financing for the home.
But, time is short and we all need to take action to make sure the home stays in the Parks family. The “redemption period” still ends Nov. 30. If nothing changes, at that point IndyMac can start eviction proceedings.
IndyMac Federal Bank FSB is the bank that owns the property. Some IndyMac reps are claiming that they won’t do a “short payoff” during the redemption period. Leslie is working on securing financing and actually has enough for a viable short payoff, if only IndyMac would agree.
On Thursday, Nov. 19, 4:30 pm we will be officially launching our campaign to “Call IndyMac! Call the FDIC!” with a press conference at Leslie Parks’ house, 3749 Park Ave in Mpls. Please try to be there, and keep reading for the latest developments.
Background: Because of needing to pay for city-ordered repairs, Tecora Parks, Leslie’s mother, was swindled into getting an ARM (adjustable rate mortgage). The man from Allied Mortgage who sold her the ARM lied and insisted it was a conventional loan. It is important to note that Tecora Parks had perfect credit and qualified for a conventional loan hands down. But she was lied to, got swindled into an ARM, and after months of trying to keep up, both Tecora and Leslie lost their good credit and went into foreclosure.
Remember, these banks got billions in bailout money and the feds “gifted” IndyMac to OneWest Bank. In this time of economic crisis, we have to let them know that it is time that the people got some help.
Poor People’s Economic Human Campaign: Lynette Malles 651-497-4644, Cheri Honkala 267-439-8419 MN Coalition for a People’s Bailout: Linden Gawboy 612-296-5649, Mick Kelly 612-715-3280
|