Thursday, May 17, 2012
Norman and Oriane Rousseau’s American dream of owning a home turned into a tragic nightmare involving Wells Fargo.
In 2000, the Rousseaus purchased a home in Newbury Park, California, putting down 30%—their life savings. Six years later, they refinanced their home at the urging of Wells Fargo officials who insisted they would be paying less per month at a lower interest rate.
Despite the fact that this was not a fixed-interest loan, which is what they had wanted, things were fine until the bank claimed in 2009 that the couple missed a mortgage payment. The Rousseaus presented proof they had made the payment with a cashier’s check, but Wells Fargo insisted the money was still owed. This mistake set off a series of fees and problems that resulted in foreclosure proceedings.
The couple fought the bank’s attempt to evict them from their house, even filing a lawsuit, but on Mother’s Day, a few days before being kicked out, Norman Rousseau reportedly gave up and shot himself. Her husband’s death won Oriane Rousseau a delay in the eviction, but she could no longer bear to live in the home.
-Noel Brinkerhoff, Vicki Baker
To Learn More:
Husband’s Suicide Yesterday, Wells Fargo to Evict Wife Tomorrow Anyway (Mandelman Matters)
Wells Fargo Has Blood on Its Hands: Desperate Man Commits Suicide After Shocking Foreclosure Mistreatment (by Dave Johnson, AlterNet)
Wells Fargo Lawsuit (Superior Court of California)
Wells Fargo Sued for Allowing Foreclosed Homes in Non-White Areas to Fall into Disrepair (by Noel Brinkerhoff and David Wallechinsky, AllGov)
Comments