Las Cruces Homeowners Demand More Help From Big Banks

A group of Las Crucens are demanding big banks do more to help keep New Mexicans in their homes, but some at risk of foreclosure say they’re not being heard.

Rosanne Vasquez graduated in May with a master’s degree in political science. Like many others, she has not been able to find a job and is going to desperate measures to try and save her home.

“This is my home, this is my future and it is my well being,” Vasquez said.

Vasquez has been paying off her 30 year mortgage for the past 12 years. Now three months behind in payments, the mother of three spends all her time applying for jobs online and pleading with Bank of America to help her avoid foreclosure.

“I don’t believe that they’re even willing to meet homeowners halfway,” Vasquez said. “It has been a humbling, and unpleasant experience in more ways than one.”

Protesting on behalf of Vasquez and others in similar situations, demonstrators from an organization called “Communities In Action and Faith” are demanding accountability.

“We want Bank of America to, in good faith, modify people’s loans permanently so they can stay in their homes,” Sarah Nolan, CAFE’s executive director, said.

Along with Vasquez, they went inside the bank along Amador Avenue asking for asking answers.

“The bank manager right away caught us at the entrance and said, ‘I’m not authorized to speak for B of A and wanted us all to leave,” Nolan said.

Bank of America sent ABC-7 a statement in regard to Vasquez’s situation.

“Between mid-June and early August, a home retention specialist made repeated attempts to reach Ms. Vasquez at the phone number on her account, but was unsuccessful. In addition, three letters have been mailed to the property address, including a solicitation of interest for the HAMP. There has been no response, and the time limit for responding to the original HAMP solicitation has expired. If we can make contact with Ms. Vasquez, we can begin the process of determining her eligibility for a modification or other assistance.”

In a separate statement, Bank of America addressed the many others who are in similar situations.

“Bank of America is committed to keeping as many homeowners as possible in their homes in these difficult economic times, as long as they have the desire and financial capability to make affordable payments. We now have more than 35,000 people dedicated to working with these customers, intent on exhausting available loan modification and other foreclosure prevention measures prior to a foreclosure sale.

The fact is Bank of America has completed more than 900,000 modifications through all available programs since the start of the housing crisis in January 2008, including about 150,000 permanent modifications through the government?s Home Affordable Modification Program, leading the industry. About 250,000 additional customers have been provided with a HAMP trial modification which either remains active in the trial period or was closed.”

“Unfortunately I don’t feel any closer to saving my home – but I’m not going to give up,” Vasquez said.

Modifications typically depend on a homeowner having some income on which affordable payments can be scheduled.

Vasquez says she didn’t respond to any of the letters she received because she wasn’t comfortable with the way it was worded. But adds, the CEO of Bank of America contacted her Monday afternoon and was told a mortgage specialist will be directly in touch with her.