Las Cruces Homeowners Facing Foreclosure Claim Bank of America Not Doing Enough to Help


POSTED: Monday, August 15, 2011 - 5:26pm

UPDATED: Thursday, August 18, 2011 - 7:50am

LAS CRUCES - Some people in Las Cruces say a popular bank isn't doing enough to help homeowners facing foreclosure.

They held a protest Monday morning outside the Bank of America at 250 W. Amador, before marching inside with their demands.

"I'm not even sure what my future holds," said Roseann Vasquez.

She recently graduated with her Master's degree but hasn't been able to find a job in the tough economy.

"I haven't been able to make my mortgage payments on my home that I have lived in for 12 years with my three children," she said.

At risk of loosing her home, Vasquez is hoping Bank of America will help. She's asking the bank to modify her home loan and reduce the principal amount to reflect the current market.

But she said Bank of America told her they have no local representatives to meet with her, and instead have given her a number to a customer service representative.

"I'm not requesting anything unreasonable from Bank of America,” said Vasquez. “I just want some attention from them as an individual homeowner."

After about half an hour of protesting outside of the Amador Bank of America, Vasquez and her handful of supporters marched into the bank and demanded to see the manager. But less than 5 minutes after going inside the bank, the group came back out and said they didn't get the help they were looking for.

"The bank manager caught us at the entrance and told us she can't talk for Bank of America and she told us to leave," said Sarah Nolan, the director for Comunidades en Accion y de Fe. The organization is a faith-based community group based in Southern New Mexico.

In response to Monday's protest, Bank of America released the following statement to NewsChannel 9:

Bank of America is committed to keeping as many homeowners as possible in their homes in these difficult economic times, as long as they have the desire and financial capability to make affordable payments. We now have more than 35,000 people dedicated to working with these customers, intent on exhausting available loan modification and other foreclosure prevention measures prior to a foreclosure sale.”

The fact is Bank of America has completed more than 900,000 modifications through all available programs since the start of the housing crisis in January 2008, including about 150,000 permanent modifications through the government’s Home Affordable Modification Program, leading the industry.  About 250,000 additional customers have been provided with a HAMP trial modification which either remains active in the trial period or was closed.

Vasquez said she has no idea how long she will be able to stay in her home before the bank forecloses on it. She is just hoping Bank of America will be able to re-negotiate her loan before it reaches that point.

"I'm hoping that there will be a successful outcome in the long run."

Comments News Comments

Banks are taking homes due to foreclosure being their #1 money maker, I work w/a charity that helps home owners whose loans were written in the last 10yrs and their bank won't work w/them by connecting them with premier attorneys that offer afforadable legal representation to prove their loan is fraudulant and in turn demand a settlement of a restructured loan so they can afford home long term or in some cases win the home free and clear. Call Tisa to see if you are a candiddate 954-391-5553

I had my mortgage with Countrywide and the min Bank of America took over I refinanced with the credit union I knew they were up to no good..

You all are missing the point. This woman is not asking NOT to pay her mortgage, but a new payment plan.

I am an educator too, and have witnessed school districts not filing in positions to save funds. Parents should exercise their rights a demand a teacher ratio of 21 to 1.

Only the people that are in a foreclosure situation...know, their situation. Sometimes unanticipated things happen, like loss of job, children grow up and move out, less money comes in, yet expenses grow, divorce, children get into trouble with the law, etc. We need to have compassion. They are not asking to get the home for free. They just want a modification payment that is affordable. That's it. Home is Home. Come on with the people!

Ok. You lend me $30K. After a couple of months I will come to you and say, I have to put my son through college and I will only pay you $10K on what I owe you. Fair?

It looks to me like we have some angry Bank of America workers making comments on this story. Lets all bow down to the banks who sold deceptive loans just to make a buck. Of course the banks paid the money they owe back....They sold more deceptive loans that will eventually bite them in the ass. I agree that people should not bite off more than they can chew, but sometimes a person needs some genuine help. Don't judge a person and call them a "freeloader" until you've been in their shoes.

Life can be tough,but new doors open.Another chapter in life.Not a good answer,but we all move forward.Good luck

Companies were bailed out but they paid the money back. It shouldn't matter how much the houses are worth if the payments are being made because ultimately the house will be paid free and clear. A loan modification will not help if you can't pay your mortgage, period

The banks took millions from everyone who ever worked during those years so its everyones money that bailed them out.

They have a contract with the citizens of this country to do the right thing. We saved them and now we are in a double dip recession so its time for them to help us.

The de-industrialization of the U.S. and outsourcing every manufacturering and customer service job has hurt this country more than you realize.

Please explain how they took millions. Where is this contract you speak of to do the right thing? When did you save the banks? Bring out your check book and prove it. Banks are owned by investors. Your neighbors in Las Cruces and around the country. Why do they need to lose all their investments because you can't pay your mortgage? What about their mortgage? If they paid the money back, shouldn't the house owners do the same?


I bought a new car recently, it's not worth what I paid for. I hope the bank will lower how much I owe them, because it's not fair the car decreased in value.

you just recently bought this car, and it's already decreased in value? Geez..Usually it takes some time for that to happen. Looks like you got cheated.

A car depreciates in value as soon as you drive it off the lot. Geez. Basic economics.

Yeah, because it would depreciate so much in value to the point where it would make any difference in the monthly payment, right? Wrong. Go find something else to explore Dora.

Have you noticed that the housing market also depreciated there sparky? Advanced economics perhaps?

Good point. Even if the banks had not borrowed the money from the taxpayer, that does not disolve the homeowners responsibility to pay for what they bought.

CitiBank took millions from the taxpayers and then when I lost my job they wouldn't work with me. It is time the greedy "big boys" and politicians are made to walk in our shoes. I pay my bills even if I have to work 2 or 3 jobs to do so. Any way the bank knew they were loaning money to people they shouldn't and they took our tax dollars to bail them out - NOW IT IS OUR TURN and it should come from the banks and politicians pockets NOT the taxpayers.

Only problem is with your premise is that the millions you speak of were paid back. There is no deb there. Besides, it's not the big boys that own the banks. It's your neighbors that have invested in the banks. Why should they pay your bills? Banks do not exist in a vacuum. They exist because people like you and me invested in them. Saving and lending money to our neighbors. Defrauding the banks will not solve the problem because they are defrauding the investors.

Are you a disgruntled bank manager or something??

What part of "investor" did you not understand?

You signed a contract for a certain amount and should honor the contract. Why should the bank be responsible for your poor judgment. As a tax payer I am tired of you freeloaders feeling entitled to everyone elses money. PAY your Bills!

YES.. AGREED...We should all have the ability to foretell the future like llvaughn here.. You know, since we all knew that the economy was going to take a turn for the worse and millions of people were going to be put out of work. You call an unforeseen circumstance, like losing a job, poor judgement??? I think you need to rethink your judgement!

OH..And your freeloader comment sealed the deal.. bringing the rest of your ridiculous rambling straight to pure ignorance.

Hey there taxpayer, I take it you don't consider these huge banks as freeloaders. I am pretty sure they felt very entitled to YOUR money when they were so generously bailed out. Your frustrations seem a little misdirected.

Did you read about the part that the banks paid the money back? Or is that a little misdirection on your part?

If you are tired of FREELOADERS what are you doing about the politicians and people on welfare?

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