10.6.11 6:12 p.m.

The legal team for Tim Collette, whose home was foreclosed upon the same day his son returned home on leave from battle in Iraq last month, filed a complaint in federal court this morning against JP Morgan Chase. The 26-page complaint outlines Chase’s unlawful foreclosure and breach of contract in the Collette case.

Tim bought the Bend home in 2006 with a $127,000 down payment. When his small flooring and countertop business was hurt by the economic downturn, he contacted Chase for help. Chase put Tim on a collision course with foreclosure – advising him to skip payments to qualify for help, putting him on a trial modification for nine months, then denying him a permanent modification and slapping him with $9,000 in penalties and arrears.

“Unfortunately, Tim’s situation is not unique,” says his lawyer John Bowles. “His case is representative of what thousands of Oregonians are going through every month.”

Tim’s son, Aaron Collette, arrived home on leave from Iraq on August 9^th, just hours after Chase sold his family’s home on the courthouse steps. The Collette’s story has drawn widespread media coverage and attracted the attention of politicians and activists. More than 120,000 supporters signed a petition created by EFO on behalf of Tim Collette on change.org.

Tim is still in his home, and says he’s taking up this fight not just for his family, but for the countless other homeowners in the same boat. “People who play by the rules and do what their banks tell them shouldn’t end up with nothing,” says Tim. “It’s time for people to stand up and demand some real accountability from these corporations that we bailed out as taxpayers.”

8.10.11: 8:15 p.m.

It’s been quite the rollercoaster 24 hours for Tim. First, his home was sold on the courthouse steps at 3:30 yesterday afternoon. Ironically, the nervous auctioneer stood in front of a plaque that was emblazoned with a George Washington quote on the importance of valuing our country’s military.

Then just a few hours later, his son Aaron came home from Iraq. Up until the morning they sold his home, Chase tried to force Tim to sign a deed in lieu of foreclosure, which would have cost him his opportunity for legal recourse. Tim refused to sign this paperwork as it went against what Chase had been promising him, and Chase went ahead and showed they have no consideration for political, media and public pressure to do the right thing. The bank bought the house back from Tim, and we now wait to see if and when they will serve him an eviction notice. Tim’s lawyer says this is just the beginning and is already planning to file an action against Chase in the coming days. Tim’s story continues to make national headlines, with a feature set for the Los Angeles Times tomorrow and a live interview with Tim and Aaron on Fox & Friends Friday morning.

Despite his home being sold out from under him by the very bank who led him to default in the first place, Tim is elated that Aaron is home. Aaron was very excited to be escorted him by the airport by the Patriot Guard, a group of vets who have made a name for themselves by taking to their motorcycles to protect military families at funerals and other events. We will have video of the day’s events soon. If you would like to offer words of support or encouragement to the family, please contact them at homecomingwithoutahome@gmail.com.

 

 

7.29.11: 5:15 p.m. - Tim found out this week that Aaron will be returning home earlier than expected – in fact, his new arrival date will most likely be August 9th, the same day Tim’s home is set to be sold on the courthouse steps. While Tim says he’s excited to see Aaron sooner rather than later, he’s also extremely stressed about making sure Aaron has a bed to sleep in during his two week leave. Tim’s lawyer is continuing to oversee negotiations with Chase, but as the clock ticks down there is still no resolution. You can help Tim by contacting national news organizations and asking them to cover this story. You can find all the contact information for major news outlets in the post below.

7.20.11: 4:30 p.m. - The support for Tim is going strong over at change.org – thanks to some unsolicited support on filmmaker Michael Moore’s Facebook page, his petition is now past 116,000 signatures! But that’s not all you can do to help. While Tim works with his lawyers on negotiating with Chase, we want to make sure that the public pressure on the bank to reverse its many wrongs in this case doesn’t subside. You can help by asking national media outlets to cover Tim’s story, here’s a quick rundown on how to do that:

- E-mail NBC here and select “NBC Nightly News” and “Story Idea”, or call the mainline at 212.664.4444 or their Communications Director at 212.664.2919.

- E-mail CBS here, or call 212.975.3247.

- E-mail ABC here, or call 212.456.7777.

- E-mail CNN here, or call 404.827.1500 and select option 1.

- Once you’ve made your calls and e-mails, please tell us how they went by filling it out this quick and easy form.

7.18.11: 11:45 a.m. - This morning Chase told yet another national news organization that it is working with Tim to find a solution to his foreclosure. This latest vague promise came in the Washington Post. Tim’s change.org petition is also gaining momentum – more than 100,000 supporters have signed it!

In the meantime, Chase continues to prove its incompetence. Tim had one last step to take to submit a new loan modification packet to Chase – fax the paperwork and proof of income to his Chase contact. Having experienced the lost paperwork story many times, he went to his local bank to send the fax. His bank gave him a confirmation that the fax was delivered – but now Chase claims they never received it.

Tim says he now can’t even keep track of how many times Chase has lost his paperwork. “I’m at the end of my rope,” he said. “This is their business, paperwork, and they can’t even manage to keep one document straight?” On top of asking Tim to send his pay stub again, Chase has now requested several additional documents to consider Tim’s modification request. The pressure is intense, as Tim is under a tight deadline for his new job and is staying at work until 7:30 at night, then trying to deal with the massive amount of bank bureaucracy in his little remaining time.

In all of this the thing that weighs heaviest on his mind is his son’s safety. Aaron’s team was hit for the third time by an IED in Iraq just a few days ago. Luckily, Aaron was inside his Army vehicle and not seriously injured, but Tim is nonetheless extremely concerned and doesn’t want Aaron to worry about the foreclosure mess while he’s fighting in Iraq. He is doing his best on this end trying to make sure Aaron has a safe place to come home to, but Chase has yet to take his case seriously and address it in a timely and accurate manner.

7.13.11: 10:30 a.m. - Tim’s story continues to capture the interest of Americans – nearly 80,000 people have signed his change.org petition! With this kind of support, there’s no way Chase can sweep his case under the rug. You can join the movement here.

7.8.11: 2:30 p.m. - Tim is still waiting to hear back on the status of his latest mortgage modification application with Chase. In the meantime, Tim’s story caught the attention of the folks over at change.org, and they decided they wanted to do their part to help them. They’ve set up a petition on the site, which you can find here. More than 4,000 people have already signed it! As a thank you to his supporters, Tim also recorded this video:

 

6.23.11 – Day 15: 3:45 p.m. - First making national headlines in the Huffington Post, Tim is once again being profiled by the news outlet. A follow-up to his first story was posted just a few hours ago – read more here. Although the article mentions Tim is feeling good about his current situation with Chase, that’s actually not the case. While it’s progress that Chase is being more receptive than before, Tim is still far from a resolution and tells us he still feels extremely frustrated with the way his case has been handled. As Tim waits for his most recent modification paperwork with the bank to go through, we’ll continue to update you through this blog when anything significant happens. Thanks to everyone for supporting Tim and all the other homeowners in similar situations!

6.22.11 – Day 14: 12:00 p.m. - Tim is still in a holding pattern with Chase. As of now, his foreclosure sale is still set for a week and a half before Aaron returns from Iraq, but Tim is working with a lawyer to try and reach a permanent solution that will keep him in his home for good. After three tough years in the battered Bend job market, Tim has just recently started gaining more work, and can now make his regular mortgage payments. Unfortunately, Chase still won’t work with him on the penalty fees and arrears that accrued during his drawn out and unsuccessful trial modification, and without Chase’s cooperation, Tim won’t be able to keep his home.

6.21.11 – Day 13: 1:30 p.m. - Tim’s appearance at yesterday’s press conference highlighted an ongoing battle between lawmakers who want to pass mortgage servicing reform and the powerful banking lobbyists trying to convince the public that everything is fine and well in the way big banks deal with homeowners. A clear illustration of this divide can be found in two recent articles that we highly encourage Tim’s supporters to comment on -

Yesterday’s Oregonian talked about the press conference, and a Republican’s admonishment of bankers – comment here.

Meanwhile, the financial lobby fired back with an opinion piece in the Statesman Journal full of incorrect and misleading statements on the housing crisis – comment here.

6.20.11 – Day 12: 4:30 p.m. - It was a busy day for Tim – he was up bright and early to speak at a press conference on behalf of state mortgage servicing reform, and before that he got a call from U.S. Senator Jeff Merkley. Merkley has emerged as one of Tim’s strongest advocates, and was shocked to learn that Chase had gone back on its promise to delay Tim’s foreclosure until after Aaron’s leave.

In a memorable moment for Tim, he was honored this morning for his visit on the House floor by Representative Conger, who represents Tim’s hometown of Bend. Traveling to Salem also gave Tim a chance to visit his sister, who lives in town and attended today’s press conference in support of her brother. You can see highlights from Tim’s speech here:

 

6.18/6.19.11 – Days 10 & 11: Tim is preparing this weekend for speaking at a press conference in Salem Monday morning. Tim will be there to share his story in support of SB 826 & 827, two mortgage servicing bills currently being considered by the Oregon legislature. Lawmakers, consumer advocates and other homeowners facing foreclosure will join Tim at tomorrow’s event.

6.17.11 – Day 10: 10:45 a.m. - IMPORTANT NEWS! Tim has just received word that Chase has broken their promise to postpone his foreclosure sale until after his son returns home for leave from Iraq. Instead, Tim is now set to lose his home August 9, just ten days before Aaron comes home. We have put up another countdown clock to reflect the new date, and encourage Tim’s supporters to call and write letters to their local newspapers, Congressional leaders and Chase bank. EFO will be working to gain additional media coverage on the latest in Tim’s case at both the local and national levels.

6.16.11 – Day 9: 5:15 p.m. - In yet another stunning display of inexcusable ineptitude, Bank of America has admitted to sending out 5,000 letters accusing Oregon homeowners of not paying their property taxes and threatening them with foreclosure. The problem – the letters were all wrong.

“We sincerely apologize to those who received the letter in error,” a BofA spokeswoman tells the Oregonian.

For the shocked homeowners who received the erroneous documents, the apology doesn’t begin to resolve the massive mistake. “We have always been in good standing in the 15 years we’ve owned our home,” Judy Crawford of Aloha said. “My husband and I are truly furious.”

This is just the latest in a long list of misdeeds perpetuated by big banks and paid for in stress and hassle imposed on homeowners. A systemic pattern of the financial industry not playing by the rules is exactly what got Tim and countless homeowners across the country into the position of fighting to save the roofs over their heads. It’s time to stand up and say enough is enough – apologies for egregious and inexcusable mistakes is simply outrageous. Federal and state lawmakers need to impose accountability on incompetent banks now. Again, you can get involved right now – if you live in Oregon, please use this quick and easy form to send an e-mail to your elected officials urging them to pass statewide mortgage servicing reform. Supporters in Oregon and the rest of the world can also have a say by signing the petition demanding change from big banks.

6.15.11 – Day 8: 2:45 p.m. - If there were stronger federal and state protections for homeowners, thousands of Americans – including Tim – would actually have some recourse against unethical mortgage servicers who’ve pushed families across the country to the brink of foreclosure, and beyond. The need for such legislation in Tim’s home state of Oregon was underscored in a powerful editorial in today’s Statesman Journal. According to the paper’s editorial board, it would be “unconscionable” for lawmakers to walk away from the soon-over legislative session without passing foreclosure prevention measures. Tim has been actively involved at the state-level in pushing for SB 826 & 827, a pair of bills that would give Oregonians a fighting chance to save their homes. In fact, he’s crossed the mountains three times to testify in front of state lawmakers, sharing his story and urging his elected officials to take action. You can get involved right now – if you live in Oregon, please use this quick and easy form to send an e-mail to your elected officials urging them to pass statewide mortgage servicing reform. Supporters in Oregon and the rest of the world can also have a say by signing the petition demanding change from Chase.

6.14.11 – Day 7: 2:00 p.m. - It’s Flag Day today, which is also the Army’s birthday. Given that today honors two of our country’s most patriotic elements, we think it’s also a good time to point out the very anti-American values our nation’s banks have profited off of for so long now. Big Wall Street banks such as Chase have turned their backs on homeowners like Tim, choosing instead to foreclose on American families and pocket big bonuses without blinking an eye.

Chase has contacted the Oregon Department of Justice and Tim’s attorney indicating that the foreclosure has been paused, but Tim still does not have this promise from the bank in writing. They haven’t told him how long the pause will last, but the indication is that Chase will review a number of options – including letting him once again make payments through a loan modification. Again, nothing is in writing and nothing is certain. As a matter of fact, he’s already received three calls – all from different people. One representative offered him one deal, a second representative called with the same deal not knowing the first representative had called, then a third representative called with a completely different deal than the first two.

Says Tim: “Chase is consistent. Consistently bad.” Until Tim has a resolution in writing from the bank, we’ll continue to keep you updated on his progress.

While we chronicle Tim’s negotiations with Chase, we invite you to share your experience. Are you fighting to save your home? Did your bank tell you to skip payments in order to qualify for help only to deny any help in the end? Submit your comment below. We know there are millions of homeowners just like Tim who through no fault of their own have lost all of their equity, lost their jobs and are now teetering toward foreclosure. Follow Tim’s story here and on Facebook.

6.13.11 – Day 6: 3:00 p.m. - Clearly the last week of growing media interest around Tim’s story has gotten to Chase – as we mentioned this weekend, the bank has promised to postpone Tim’s foreclosure. Since Tim has spent years being strung along with similar promises from the bank, he’s asked for the details in writing. As of now, he hasn’t received it. Until Tim’s case reaches a resolution, we will continue to publicize his story. Here is Tim speaking on behalf of himself and homeowners around the country in similar situations on Fox News:

6.12.11 – Day 5: 5:00 p.m. - Tim’s story has reached outside of the United States – featured in the U.K. Daily Mail. His experience and pending state mortgage servicing legislation, SB 827, were the subject of a column this weekend by Steve Duin in the Oregonian.

6.11.11 – Day 4: 4:50 a.m. - Very early this morning, Tim was live on Fox News. He spoke about the extreme frustration and financial drain he’s gone through in trying to work with his bank. He made every payment on time – until his bank told him to skip two payments in order to qualify for help. The only help he received was a drained bank account, bad credit and an uncertain future. The attention his case is getting may help him – Tim hasn’t seen anything in writing yet but a Chase spokesperson called to say they would temporarily pause Tim’s foreclosure. We will keep the countdown clock going until Tim has a signed agreement with Chase. But even then, the story isn’t over for Tim or for the millions of people who have lost all the equity in their homes and continue to face foreclosure. For all of us, the clock will continue to countdown until our elected leaders take decisive action to hold the big banks accountable for wrecking our economy and foreclosing on our future financial security. Help us stand with Tim and the millions of homeowners just like him – sign the petition today and head over to Facebook to “Like” Tim’s page.

6.10.11 – Day 3: 3:00 p.m. - Tim has been asked to share his story on Fox News tomorrow morning. They’re sending a car to Bend to pick him up in the middle of the night so that’s he’s in Portland bright and early for his satellite interview with New York at 4 a.m. The more Tim’s story is heard, the higher the chances that Chase will finally take notice and do what they should have in the first place – work with Tim to negotiate a deal that works for both sides. Tim’s story is set to air at 7:50 EST.

9:00 a.m. – Tim’s story made the front page of the Huffington Post! This is really exciting news, as it means people all over the world will be reading his story (especially considering the HuffPo just overtook the NYT in web traffic). If you haven’t yet seen the story, head over here – we promise it’s an excellent read!

6.9.11 – Day 2: 12:30 p.m. - Senator Merkley just spoke about Tim at length on the floor of the Senate. In reference to Aaron’s pending trip home he said “let’s hope it’s a homecoming with a home and not a homecoming without a home.” We also spoke to Tim about an hour, who got a phone call from Aaron in Iraq early this morning at 5:30 a.m. Oregon time. Aaron was thrilled to hear that progress was being made on saving their home and told Tim the news took a load off his mind. Tim also said he was relieved to hear Aaron felt better, so that he could focus on his work in the military and not be distracted or stressed by what was going on back home.

10:30 a.m. – We’ve just found out that Senator Merkley is set to take the Senate floor at approximately 11:45 PST to speak about mortgage servicing reform. In his speech, he plans to share Tim’s story with fellow lawmakers. Watch it live online here.

6.8.11 – Day 1: 12:34 pm - Early this morning, Tim got a call from U.S. Senator Jeff Merkley. Tim called us at EFO afterward to tell us all about it – it’s not often that you answer the phone and find a U.S. Senator on the line offering help. He told us that Senator Merkley promised to do what he could to help him make sure he could welcome his son home without the stress of a looming foreclosure date.

4:45 pm – We got another call from Tim. Senator Merkley called him back to report that his staff called Chase to ask them to postpone the foreclosure date and work to secure a permanent loan modification. Come to find out, Chase also heard from the Oregon Department of Justice. We’re all pulling for you Tim – we know you are one of literally thousands of Oregonians facing the same tragedy – one that was totally avoidable if it weren’t for the extreme greed of the handful of large banks perpetuating the problem.