JoAnn Rose

I, Jo-Ann Rose, bought my home on March 23rd 2003 as a single mother of four. My dream was to finish raising my children and to grow old in my home. During the financial collapse of 2008, however, I realized that I was a victim of the big banks’ predatory lending.

My home did not even pass inspection yet the agent, appraiser, and broker somehow got the bank to approve the loan for an amount that was substantially higher than what the home was even worth. When I was then faced with a 13% interest rate and a balloon payment, I was told by a different broker that I had to refinance in order to get out of the balloon payment. I was thus forced to refinance and received an even more predatory loan that increased my mortgage to a staggering amount of almost $3000 a month. I had to work twelve hours a day, seven days a week, to pay the mortgage and became so sick from stress and illness that the doctor ordered me to not do any overtime. After that, I sought a loan modification by filing for bankruptcy and received it. I made my payments on time with the bank taking my money each month but when I called the bank, CitiMortgage, they said they didn’t know who I was. They refused to accept that I was even in their files but they were taking my money each month! Then I got a letter from PennyMac asking for payments because CitiMortgage had sold the mortgage to them. All I wanted was to pay to stay in my home so that my family could live in peace and that was why I then repeatedly sought a reasonable loan modification and principal reduction from PennyMac as I was a victim of predatory banking. PennyMac is a bank that operates out of California and according to Washington state law, PennyMac has no right to foreclose on anyone in this state since they don’t have a base of operations here.

Instead of negotiating with me or helping me, PennyMac auctioned my home in an illegal auction with RCO/Northwest Trustee. PennyMac – the SAME BANK – bought back my home at the auction! They’re now using The Kendra Todd Group, a real estate company, to evict me. However, I refuse to leave my home. I refuse to be a victim to their predatory business practices. I won’t let them take more from me or my family. They’ve already taken so much of our peace and happiness away. I won’t let them take my dignity.

I demand that Kendra Todd let me pay rent to stay in my home. My family has lived in this house for eleven years and it is all my children know. I shall not be moved and I’m taking a stand because I want my community and my neighbors to know how the banks are victimizing innocent people. This could happen to anyone because the banks don’t care who they hurt.