The opinions expressed by columnists are their own and do not represent our advertisers

Thursday, May 17, 2012

Wells Fargo Has Blood on Its Hands: Desperate Man Commits Suicide After Shocking Foreclosure Mistreatment

This is the story of what happens when an average couple is up against a giant, wealthy, powerful bank.

Norman and Oriane Rousseau were one more couple pushed by a huge, greedy bank to the brink of homelessness. On Sunday, desperate and with nowhere to go, Norman Rousseau shot himself.

This is the story of what happens when an average couple is up against a giant, wealthy, powerful bank. Unfortunately the result is what the result always is when people are on their own against the wealthy and powerful: the bank ends up with all of their money, takes their house to sell and throws them out onto the street. In this case the bank is Wells Fargo.

The quick version of this terrible story is that Norman and Oriane Rousseau of Newbury Park, California were scammed into a predatory mortgage. But they made their payments anyway, always paying with a cashier’s check in person at the same branch. Then one day the bank misapplied their payment and said they still owed the money. This started a long, nasty process that led to the bank evicting the Rousseaus from their home.

Here’s the shocker: right at the start the Rousseaus came up with proof that the bank had received the payment and had cashed the check. But the bank continued to claim it had missed the payment, gave the Rousseaus the runaround, started applying fees, and used it as an excuse to foreclose on the house anyway.

The Rousseaus fought back, the bank dragged it out for so long and pulled so many tricks, getting its way every step of the process, until this last Sunday Norman Rousseau finally gave up and shot himself in despair – two days before the scheduled eviction, Tuesday, May 15. (The Rousseau’s lawyer just said he was able to win a 2-week delay.)

It is a tragic story, but when you dig into the details it becomes much worse.



Anonymous said...

make your house payments you agreed to or get out.

Anonymous said...

Did you read the story? They did make the payment. The BANK misapplied the funds and when the family demonstrated proof that they paid, it still did not matter and they started foreclosure.

Anonymous said...

This story needs to be shared. More people need to know how Banks like Wells Fargo destroy lives and get away with it daily despite these unethical practices. Meanwhile the legal system sits by and does nothing. The Mortgage Task force is a joke. AG Schneiderman is a reality version Harvey Dent who sold out and is only interested in furthering his career. The same goes for all of the rest of the sell out state Attorneys General. Anyone who defends these disgusting people need to wake up and realize they are on the wrong side of morality. Something needs to be done. We The People need to realize that if we do not act, we are all slaves.

My heart goes out to the Rousseau family. I know what it feels like to be helpless. I have gone through a similar scenario in losing my home. And I know many others with parallel stories. It's a travesty. Meanwhile nothing is being done about it.

Eric Cooper is the name of the man who sold the Rousseau family the predatory loan. He literally made a killing from this loan through lies and trickery. I think Karma will take care of this guy.

And those of you who say they should have sought legal help obviously did not read the whole story. Norman had lost his job and they used all their savings on lawyers and legal fight. But apparently some of their legal assistance did not provide adequate attention to the case and should also have blood on their hands. These lawyers knew what they are up against

Read more: