As JPMorgan Chase discusses an $11 billion national settlement this week, Minneapolis homeowners who have suffered unjust foreclosures and facing eviction with Chase are not impressed.
"JPMorgan Chase consistently refused to work with me after I fell behind on a predatory loan--even though I had paid for my home five times over," said Jaymie Kelly, whose foreclosed south Minneapolis home is known for its blue and white cow sculptures. "Instead, they sold my home to Freddie Mac--which can now evict me any day. No settlement check could make up for the trauma of being forced out of my home of 30 years. I am not leaving."
Of the $11 billion, $4 billion would go to consumer relief. It is unclear how much relief individual homeowners would get. In April, the Independent Foreclosure Review settlement resulted in many homeowners receiving checks of only $300-$500.
"Chase Bank illegally dual tracked my family--telling us they were working with us even as they were filing for eviction," said Jonathan Ceballos, Jaymie's neighbor in south Minneapolis. "In July, they sent 30 sheriffs to forcibly remove us from our home--but we fought back with support from the community. Two months later, we are still in our home and hoping to reach a settlement with Chase--but nobody should have to fight this hard to keep their home. I hope this settlement provides relief to homeowners, but more importantly, I hope that Chase changes their policies to work with families like mine and Jaymie's instead of evicting."
Jaymie and Jonathan are residents of south Minneapolis' Eviction Free Zone, where residents resist unjust evictions. Both families had loans with JPMorgan Chase and both have active eviction defense campaigns with Occupy Homes MN.