Victory for Zaki Alshalyan!

On February 19, 2012, Zaki Alshalyan signed and returned his permanent loan modification. His case is over! Here’s what Zaki accomplished, with our help, a bank action, and some phone blasts:

  • Pulling Bank of America away from foreclosure proceedings and into negotiation;
  • Getting a mortgage that caps at 4% annually
  • Getting a principal reduction of more than $500,000
  • Getting an extra offer of kicking a small amount of the remaining principal to the end of the loan (the kind of balloon payment that will actually work in his favor)
  • Getting to keep his kids in their home!

Here’s Zaki’s story, and here’s how it went down:

On September 27th, 2012, the Occupy Oakland Foreclosure Defense Group drew a line in the sidewalk and told Bank of America that they were not going to take Zaki Alshalyan’s home.

zaki foreclosure action BofA

On Friday, October 26th, as a result of our direct action and a proposal for a loan modification put together by OOFDG peeps working with Mr. Alshalyan, Bank of America approved a three-month trial loan modification for Zaki. In late January, Mr. Alshalyan made the last of his three trial payments. Today, February 19th, he signed and mailed an excellent permanent loan modification agreement! He will make his first payment March 1st, 2013.

One of our members says:

Sometimes it takes demonstrating outside a bank. Sometimes it takes occupying inside a bank. Sometimes it takes phone calls, press releases and dramatic videos. Sometimes, as with this effort, it also takes know-how to put together a proposal and the audacity to send it unasked to the bank.

Zaki had lots of people behind him, protesting and organizing. Including possibly you! Thanks to everyone who helped make this happen.

Victory for Katie Mitchell!

Miss Katie Mitchell has kept her home because of her hard work and our support.

Victory for Gayla Newsome!

Before we were a formal organization, our members helped Gayla Newsome reclaim her Oakland home in December 2011, working with ACCE (Alliance of Californians for Community Empowerment). Now, 13 months later, Gayla is living in her home and finishing up her trial modification.

We have helped several other homeowners with temporary and ongoing solutions, including Richard Harris.

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