Letter to Local Media and State Senators Nelson and Rubio

Senators Nelson and Rubio both forwarded this letter on to CFPB submitting 2 additional, although duplicate complaints. Katie Cribbs from WINK Call for Action investigated the story and determined that they were unable to help therefore would decline to interview us. We never heard a word from Fox 4 News, NBC-2, ABC-7 or the Fort Myers News Press.

Please give us a voice! My name is Mary Dambacher. My sister Michelle and I are 23 days away from having our family homestead sold as a foreclosure by OneWest Bank. My mom became a victim of the predatory lending practices of Financial Freedom/OneWest Bank in 2006 at the height of the housing market. Let me tell you a story about how OneWest is manipulating the Federal HUD Guidelines that are supposed to help families like us salvage their parent’s homes from predatory HECM “Reverse” Mortgages. Financial Freedom/OneWest and other companies like them prey on the elderly who are desperate to maintain their independence. Then when the homeowner passes away they deny families their right to purchase the home back.

My grandparents purchased the property in question in 1968. I was 4 years old when we moved into this house. My sister was born shortly after, delivered here at home by my grandmother. After my grandparent’s deaths, my mom inherited the house. Mom was diagnosed with stage 4 lung cancer in April 2013. She passed away here at home in her bedroom on Sept. 15, 2013. All 50 years of my life were spent creating memories here. My Sissy was born in one bedroom and my mom died in the other.

Shortly before mom’s passing I made the first contact with OneWest to begin the process of trying to salvage the homestead from the “Reverse Mortgage”. Since that time OneWest has continued to employ the same unethical business practices that have them involved in multiple class action suits concerning their involvement with IndyMac during the mortgage/foreclosure crisis. OneWest has manipulated the Federal HUD Redemption Program Guidelines and denied us our right to purchase the home under that program. There is a current Federal complaint filed by me with the Consumer Financial Protection Bureau.

This is potentially a national story as I’m sure there are many, many more families out there who have had the same experience that I have had with these banking conglomerates. The only way to start a grass roots movement against the unethical business practices of OneWest and companies like them is to have a voice. Please give us that. For all the families whose homes are being stripped from them by these predatory lenders.