Sisters Lose Home After OneWest Forecloses on Reverse Mortgage

Two sisters from North Fort Meyers, Florida, Michelle Ayers and Mary Dambacher, were profiled in the local media earlier this year after they chained themselves to their deceased mother’s home as a stance against OneWest Bank foreclosing on the home due to a reverse mortgage.  The story was first reported by Fox 4 News: NFM sisters chained to home to protest reverse mortgage

Below, CRC is including letters the sisters have shared with the California Reinvestment Coalition as they try and get the word out about the difficulies they encountered from OneWest Bank when trying to keep their family home, which was foreclosed on in November 2014.

Letter detailing requests to various regulators for help

Letter #1 explaining situation 23 days before foreclosure

Letter #2 explaining situation

If you are a surviving family member of a deceased reverse mortgage borrower whose loan was serviced by Financial Freedom, a subsidiary of OneWest Bank, you may want to provide your input to the Federal Reserve and Office of the Comptroller of the Currency.  These two regulators are currently considering OneWest’s proposed merger with CIT Group.  More information on how to send an email to the regulators is available on CRC’s OneWest/CIT Group Merger Resource page.

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