Shortly after JPMorgan Chase offered Sergio Ceballos a chance to submit a loan modification on his family home of 12 years, they sent him a summons to appear in eviction court tomorrow at 8:30 am.
After years of pleading with the bank for a loan modification, Sergio decided to join his neighbors Jaymie Kelly and Paula Medlock in a public campaign against Chase. Finally, after months of campaigning, Sergio achieved the first step in the long process to saving his family home: JPMorgan Chase would give him until June 20th to submit a loan modification so that he and his three kids can stay in the home they grew up in.
But while Chase had Sergio filling out a loan modification, they sent him a summons to appear in eviction court. If this sounds crooked and devious, that may be an understatement considering Chase routinely engages in this practice of deceiving their homeowners. As a matter of fact, Chase is the third highest offender of this practice, better known as dual tracking. They are behind only Bank of America and Wells Fargo.
A similar situation happened to Jaymie who also lives in the Eviction Free Zone (EFZ) in Powderhorn. Despite receiving a letter from Chase stating they would review her case for a modification as well as a letter from the Minnesota Attorney General’s office confirming that Freddie Mac would hold off on moving forward with an eviction, a lawyer representing Freddie Mac pressured her to sign a document stating that she would move out.
This process in which a servicer has you filling out modification paperwork, sending them your bank statements, tax returns, payroll, stubs, etc. while simultaneously processing your foreclosure is so widespread among the banking industry that it has its own name: dual tracking. It traps homeowners in a perpetual state of fear and insecurity with the potential that they could lose their homes at any moment. Even those that are able to avoid eviction are so desperate that they often agree to unjust modifications in exchange for even the slightest bit of housing security.
But to send Sergio an eviction summons while offering him a modification packet is criminal. Now Sergio must appear in eviction court on Thursday morning. “Even as Chase says they are working with us to modify our loan, they are pushing to evict us,” says Sergio.
Stand up to dual tracking and show your support for Sergio and his family by coming to Sergio’s eviction summons tomorrow at 8:30 am. Then call Jamie Dimon, CEO of JPMorgan Chase, and demand that they call off Sergio’s eviction immediately: 212-270-1111.