11th Hour Victory!:Citibank Cancels Foreclosure Auction of Minneapolis Mom’s Home
11th Hour Victory!:Citibank Cancels Foreclosure Auction of Minneapolis Mom’s Home
Minneapolis, MN — After a several month campaign pressuring Citibank to negotiate with Colleen Mckee Espinosa and a last minute blitz of social media, petition signatures, and calls to the office of CEO Vikram Pandit, Citibank canceled a scheduled sheriff’s sale and approved a loan modification for the Espinosa’s home. An official with CitiMortgage’s Executive Response Unit contacted the Espinosa family with news that Citibank had approved a loan modification that would keep the family in their home and reduce their payments by one-third on a 7.5 year payment plan. The dramatic news came less than 24 hours before the house was to be sold at auction on Wednesday, June 13.
“I’m so relieved that my family’s home of 16 years will not be on the auction block tomorrow,” said Colleen McKee Espinosa, a nurse and single mother who received widespread support after she pledged not to leave her home without a good faith negotiation. “We are grateful that Citibank has decided to accept my payments, and we look forward to signing the final paperwork.”
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http://www.occupyhomesmn.org/11th-hour-victorycitibank-cancels-foreclosure-auction-of-minneapolis-moms-home-commits-to-loan-modification-with-reduced-payments/
