RENTON, Wash. -- A retired nurse and her son, an unemployed computer programmer, watched on Friday as their home was about to he sold at auction. The family bought the Renton house in 2006 and got caught up in the housing bubble and foreclosure. Now, their dreams are about to burst.
"We're going to be homeless. We're going to be homeless." said Mila Dolan, who came to watch the auction. "We've been hustled from bank to bank to bank. It's insane. The greed is rampant at our expense."
A group of protesters stood behind her and her son, George Karpinski, who lost his job three years after buying the home. "We're here to make our voices heard because it's not heard any other way. This is what we are down to."
Inside the Bellevue garage of Northwest Trustee Services, the auction was disrupted by protesters who shouted at potential bidders. One bidder, Gurpreet Marok, changed his mind.
"I probably won't bid today after seeing this," he said.
On George and Mila's home, $550,000 is owed, but the house is only worth $385,000. No one bid on the house that is currently owned by Deutsche Bank. "Probably, within 45 to 60 days they're going to start an eviction process, and that's just the way the law works." said Christopher Hall with Vestus Foreclosure Group. Mila and George returned to their home to wait for eviction to come. The loan on their house was sold several times to various banks. KING 5 made requests to some of the financial institutions involved in the foreclosure, but no comment has been received.show up to do the same. And last week that is precisely what happened.
Here at Mortgage Movies I work in collaboration with SAFE, Financial Revival Group and attorneys at the Jeff Jared and StafneTrumbull Law Offices as noted at this fall's Seattle City Council Candidate Forum. From protests to negotiation, to mediation and litigation one way or the other we're all trying to help homeowners when the banks don't do the right thing. In this instance I am personally coming to this one late in the game so I cannot comment much on it, but going forward I'll be learning the lay of the land here in Washington so we can get these cases properly referred to mediation, litigation or whatever remedies may be applicable.