Update: PennyMac sold Alice Smith’s home to an investment group that is helping her to remain in her home.
Update as of December 1, 2012: PennyMac staff have agreed to postpone the eviction of Alice Smith so that the bank can negotiate with her on reducing her home sale price for her. Please continue calling and emailing until PennyMac makes a fair offer.
Citigroup and PennyMac plan to evict her during the holiday season
, currently scheduled for Wednesday, November 28.
Due to care funding cuts, retirement from a job outside the home, and a Vietnam veteran husband who cut off all contact and refused support due to PTSD, Alice’s income declined for awhile and she wasn’t able to make all her mortgage payments. However, she hung in there and provided consistent care for her children even during a period of financial trials and tribulations.
Since that time, her income has recovered so that she can afford a fair deal loan modification.
Let’s help her get PennyMac to either a) rescind eviction proceedings so Alice can obtain that fair deal loan modification from CitiMortgage and make payments to remain in her home with her five children, or b) sell her home to a supportive investment group at the fair price of $450,000, rather than the $510,000 PennyMac has negotiated so far, so that Alice can participate in an affordable buyback program so she and the children can remain in her home for the holidays and beyond.
Please take action to help Alice Smith and her five children stay in their home for the holidays–
1) Call and email PennyMac with the following message:
* Stanford Kurland, Chairman and CEO, +1 818-224-7442 (then type 1 for directory, then first three letters of last name, i.e. 587, then 1 to confirm)
* David Spector, Chief Investment Officer, +1 818-224-7442 (then type 1 for directory, then first three letters of last name, i.e. 773, then 1 to confirm)
* Christopher Oltmann, Director of Investor Relations, +1 818-746-2046 (leave voicemail) or +1 818-224-7028
To: email@example.com, firstname.lastname@example.org, email@example.com, InvestorRelations@pnmac.com, firstname.lastname@example.org
Subject: Stop the Holiday Eviction of Alice Smith and Five Children
Please stop the holiday eviction of Alice Smith of 15 Le Conte Circle in San Francisco scheduled for Wednesday, November 28. She is a senior and an incredible asset to our community as a caregiver for five special needs children. Although she got behind on mortgage payments to CitiMortgage (loan #1000031156) when reductions in care reimbursements and other circumstances lowered her income, her income has recovered and she can afford to make payments on a fair mortgage loan. Please do the right thing and work with her to 1) stop Alice Smith’s eviction and either 2a) offer her (or make it possible for Citibank offer her) a fair, affordable loan modification, or 2b) sell her home to a supportive investment group at the fair price of $450,000, rather than the $510,000 PennyMac has negotiated so far, so that Alice can participate in an affordable buyback program and she and the children can remain in her home for the holidays and beyond.
Links: Alice Smith Action Flyer (four per page)
For updates and this action alert: http://occupytheauctions.org/alice