- Real Estate
OneWest is OneEvil Bank
A Small but Mighty Protest
Well our National Shame IndyMac/OneWest Day held on January 4th did not exactly strike fear in the cold hearts of the investors of OneWest/OneEvil Bank. Our turn out of protesters was not what we had anticipated.
We were a small group but we were a verbal bunch. It did feel good to voice our anger. What better way to relive some stress (other than doing you know what) than to scream at a banker?
I know that many of you were with us in spirit. Thank you for sharing your stories with me. It helps in a small way to know we are all going through this together. We are not in this position because we are stupid or foolish. We are here because of Wall Street greed and two Presidential administrations that supported unconditional bail outs to fat cats while leaving Main Street floundering.
I do have to acknowledge OneWest management did graciously come outside to meet personally with us and I hand-delivered a stack of emails from those of you who emailed me your stories. Mr. Tony Ebers, the CEO of OneWest promised to read each email and contact those customers. I truly hope, for all of us, that we are not being led down another path of frustration with empty promises of loan modification. Ebers stressed to us that OneWest takes "loan modification seriously" and that their "team meets every week to go over their loan modification procedures". When asked how many loan modifications are being done by OneWest, Mr. Ebers said "every 1 in 4 loans we review is modified". That would mean 25% of all OneWest loans are being modified?! I find that hard to believe. Statistics and everything I read would indicate the percentage is much lower, like 1%. We asked Mr. Ebers to give us names of customers we can contact who actually got their loan modified and we mean in a real meaningful way not some reduced payment for a couple of months or knocking off $100 for the lifetime of the loan, we mean something truly meaningful and realistic. He promised to get back to us with the information. Still waiting.
Yesterday I was contacted again by the "Customer Experience Analyst" and she is asking me to complete yet another loan modification package. This will be my 5th time. I really hope Mr. Ebers was not giving us lip service in an effort to get our little group to disperse from the front of the bank.
They say "hell has no fury like a woman scorned". OneWest will surely feel that fury if they continue to jerk me around. Never being one to run away from a good fight, a friend of mine said the other day about OneWest "they have no idea who they are messing with", let's hope for their sake, they don't get a chance to find out!
Ironically this OneEvil Bank has a new slogan: "Personal Banking is Now Back in the Neighborhood". I find that sad and funny at the same time. OneWest is systematically destroying my neighborhood and many others across the country. "Back in the Neighborhood"? Our neighborhood is going....going....GONE!
FOR MORE ON ONE WEST SEE MY OTHER HUBS:
Check out my other hubs: http://askme.hubpages.com/hub/My-Personal-Hell-Known-as-Loan-Modification-Part-2
UPDATE: OneWest gave us a loan modification. We read all the documents, signed and agreed to pay the modified amount. We paid on time as agreed for a year. OneWest then changed the agreement, upped our mortgage doubling it. The modification only put us deeper in debt to OneWest and finally we had no recourse but to plan a strategic walk away, which we did over a year ago.
President Obama's "Making Home Affordable" never worked for us or the majority of middle class Americans.
A few things I learned: If it sounds too good to be true, it is. Never mess with a traditional mortgage for the immediate results. Stick with your original agreement. Only the banks profit from your ignorance.