“Dual tracking” occurs when a homeowner is foreclosed on while still negotiating with a bank
for a mortgage modification.
Dual tracking in Minnesota: “Dual tracking” occurs when a homeowner is foreclosed on while still negotiating with a bank for a mortgage modification. This practice and other mortgage servicing abuses were supposed to be brought under control by the National Mortgage Settlement, but—shocker—the Settlement Monitor gave the big banks failing grades for compliance with basic standards.
In Minneapolis, Jonathan Ceballos reports that he and his family went to their local JPMorgan Chase Home Mortgage Center on Tuesday with revised loan modification documents that the bank had requested. But the next day, thirty sheriffs’ deputies attempted to evict the family from their home—breaking down the door, arresting two people and boarding up the house. But seventy-five community members—organized by Occupy Homes MN, and including members of Ceballos’ union, SEIU Healthcare Minnesota—gathered and protested during the eviction. As soon as the deputies left—to chants of “don’t come back”—the Ceballos’s supporters pulled the boards off and reclaimed the house.
When the Minnesota Homeowner Bill of Rights goes into effect in October, borrowers who are victims of dual tracking will have legal recourse. But until then, you can support the Ceballos’s effort to remain in their home of twelve years here.
http://www.thenation.com/blog/175440/week-poverty-food-policy-eitc-expansion-and-financial-security-all
