Visalia Woman's Mortgage Lending Nightmare

September 23, 2008 6:48:46 PM PDT
To some people this house behind me might just be another foreclosed property but to one 84 year old woman it's her life's savings and her livelihood.For the first time since May, Floy Mae Bryant walked into the home she owned for 17 years. She looked around at the empty walls and rooms and felt overwhelmed. In few words she described what losing her home has been like.

Floy Mae Bryant said, "Horrible ... just horrible."

Locksmiths changed the locks to allow Bryant back inside, and a Visalia police officer stopped by to make sure she didn't have any problems getting into the home. Bryant walked around the house, looking at what was taken and what little is left.

"I've got $300,000 of my entire forty years of work in this place" said Bryant.

Earlier this year, the 84 year old began struggling to make payments on her adjustable rate mortgage. The situation got worse when Bryant's two adult sons died unexpectedly. In April, Bryant came home to find her home had been locked up and taken by the bank.

Bryant said, "They had a vault lock on the door."

Central California Legal Services Attorneys stepped in to help Bryant who says she tried to negotiate payments on her house with Fannie Mae. They say Fannie Mae hasn't been willing to negotiate and illegally locked her out of her house. We tried contacting Fannie Mae, but they did not return our calls.

Central CA Legal Services Suzanne Swenk said, "The law requires after a foreclosure that if someone is still living in the house they cannot just come and lock them out after foreclosure what they have to do is serve a proper notice."

Swenk says they also have to complete an eviction process before Bryant legally has to leave the home. Swenk hopes by Bryant taking possession of the home again, Fannie Mae will consider negotiating with her. As the attorneys work to resolve the mortgage situation, Bryant says she feels like she's finally at home again, even if it's only temporary.

Lawyers hope Fannie Mae will change its mind and negotiate with Mrs. Bryant now that she has possession of the house. Even if Fannie Mae closes escrow on the house Bryant's attorneys say they can't move anyone unless Mrs. Bryant is evicted.

-----------------------------------------------------------------------------------------------

abc30 News Links:
Links to other news sections on our website.

-----------------------------------------------------------------------------------------------

Breaking News Alerts:
Click Here to Sign-Up for Breaking News E-Mail Alerts
Receive Breaking News alerts in your email inbox.


Click Here to Sign-Up for Text Message Alerts
Receive Breaking News alerts right on your cell phone.


-----------------------------------------------------------------------------------------------

Load Comments