A Worthwhile Petition

[Andrew D]

I got this in my Email:

Wells Fargo is trapping elderly widows in a horrific Catch-22 scenario in order to take their homes.

Imagine: Your husband passes away, you fall behind on your mortgage payments. Your income has been drastically reduced, so you seek to renegotiate with the bank. But the bank won’t renegotiate, because your husband’s name is on the mortgage note, and you can’t add your name to the note, because you are not current on your payments. You’re out of work, you’ve just lost your husband, and you’re about to lose your home.

Tell Wells Fargo to stop their predatory practices now and allow widows to renegotiate their mortgages.

This nightmare is all too real for elderly women across America. People over 50 are falling into foreclosure faster than any other group, and for a number of demographic and cultural reasons, the burden is falling mainly on women. For many widows, the combination of rising medical expenses and a sudden loss of income means losing the homes that they have spent a lifetime building.

After dealing with the death of a loved one, the last thing you need is a high-stress, drawn-out battle with your bank as your mortgage eats up dwindling finances. Wells Fargo will occasionally renegotiate on a case-by-case basis, but institutional red tape means that many more women will lose their battle, and with it, their homes. Together, we can pressure Wells Fargo to change its behavior, and save thousands of widows from this awful Catch-22.

Tell Wells Fargo to stop this awful practice, and allow widows to renegotiate their mortgages so they don’t get kicked out of their own homes.

You can "sign" the petition here.