"Occupy" Homeowner Takes Protest Downtown
Steve Boudreaux, a Northeast Cobb homeowner fighting the foreclosure sale of his home in June, has one week to convince the bank to rescind the sale.
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The Northeast Cobb homeowner who has been in a protracted battle with Wells Fargo Bank to prevent the foreclosure of his home is moving his "Occupy" protest to Downtown Atlanta.
Steve Boudreaux's home on Rubes Landing in Northeast Cobb County was sold in foreclosure on June 5. This was the final chapter of a multi-year process that saw Boudreaux attempt to save his American Dream by entering in to a loan modification program. Due to the late arrival of paperwork from the IRS, Wells Fargo completed the foreclosure sale.
In light of the sale, Boudreaux has been "occupying" the front lawn of his home in a 24-hour, 7 day a week vigil since the sale went through. He is assisted in this venture by the Cobb United for Change Coalition (CUCC) and Occupy our Homes ATL (OOHA), rights groups that protest what they see as unfair and predatory treatment of homeowners by banks.
Unfortunately for Boudreaux, his battle may soon be over; he has a dispossession hearing scheduled for next Friday, Aug. 10. In a last-ditch effort to prevent his eviction, Boudreaux and his allies will be staging a protest at the Wells Fargo Peachtree Center branch at 1:45 p.m. on Friday, Aug. 3.
According to a press release from Occupy Our Homes ATL, the protesters will be joined by the Green Party's presidential candidate, Jill Stein. Stein was recently arrested in Philadelphia during an "Occupy Fannie Mae" protest.
According to Wells Fargo spokesperson Jay Lawrence, the bank fought hard for Boudreaux but was unable to help him, unlike the 35,000 Atlanta area homeowners the bank has saved from foreclosure.
After the sale of the property to "a very large investor," Wells Fargo no longer had anything to do with Boudreaux or his home, Lawrence said.
"Boudreaux may disagree with us, but he has a right to," Lawrence said. "We did our best."
Ruth Wagner
12:16 pm on Friday, August 3, 2012
did he pay or didnt he pay his mortgage....thats what is left out of this story...If he didnt pay, then it's time to move. No different than if he didnt pay for his car, or other anything else the bank holds as collateral if a loan is not paid....feel bad for him but need more information...
Justin Ove
12:41 pm on Friday, August 3, 2012
Ruth,
From the information I've gathered, Boudreaux and his representatives claim that he wanted to work with the bank to modify his loan to get affordable payments. Their camp alleges that the bank was not very cooperative and wanted all the money he owed at once (they say he was three months behind and owed $5000 when he began the loan modification proceedings). As I understand it, Boudreaux had lost his job, which caused him to fall behind. I also understand he is now employed again.
I hope this clears it up for you!
-Justin
emmasheehan
7:00 am on Saturday, August 4, 2012
If you're a homeowner with an adjustable-rate mortgage (ARM), you may choose to lock into a fixed rate if you anticipate rates will be going up soon, thereby stabilizing your monthly payments. I have used 123 Refinance to compare refi rates.
GaPatriot
7:21 am on Monday, August 6, 2012
Perhaps he should be job hunting instead of protesting. The bank that holds the loan might be more willing to work with him if he has an income.