Read more: Local, National, Economy, Community, Consumer, Marcy Kaptur, Foreclosures, Bank, Eviction
Toledo Congresswoman, Marcy Kaptur (D), is telling homeowners facing foreclosure to stay put. But, is it legal?
Andrea Guice's situation is grim. She's lost her job, her huisband is sick and she can't make her mortgage payment. So, she's taking the advice of her congresswoman. "As a last resort." Ohio's 9th district Congresswoman urging her constituents, "I say to the American people you be squatters in your home don't you leave." Kaptur says she's had it with the government bailing out banks instead of homeowners. She's telling the people she represents in Toledo to stay put, hire an attorney and fight. "If they have had no legal representation of high quality I tell them to stay in their homes." Deputy with the Lucas County Sheriff's Office, Sherry Stearns, says though she's never physically removed someone or there belongings from their home, she does have legal authority. "I have a court order signed by a judge that they have to be out by a certain date and time if they need an extension, they call, and I try to work with them every way I can." Deputy Stearns, who issues convictions, says homeowbers who are behind on their mortgage have options. Number one, rework the loan. "Sometimes the banks are willing to work with them they're trying to refinance as well."
Many homeowners in trouble are like the Guice's. An interest rate hike ballooned their subprime loan mortgage payment from less than $900 per month to $1,500.
Congresswoman Kaptur blames the lender. "They are vultures they prey on our property values. I guess the reason I'm so adamant on this is because I know property law, and it's power to protect the individual homeowner and I believe that 99.9% of people have not had good representation in this."
Deputy Stearns says she has seen other instances. "It's not like this (snaps) were foreclosed and now we're here. The process takes a while and sometimes these people have been in there for 2-4 years without paying anything." Once you're issued a foreclosure you don't have to leave immediately. Stearn works with judges, the banks and residents so try and keep people in their homes. If something can't be worked out for payments, then you will face eviction.
Andrea Guice wishes she had representation. "I should have had an attorney. I really should have had an attorney. I did not know."
