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Family May Lose Farm To Fraud
Printer-friendly versionCorrine Fowler
Economic Justice Director
Colorado Progressive Coalition
Cell: 720-296-8389
corrine@progressivecoalition.
Donna Fasi
Gypsum, CO
970-524-7057
beardance@earthlink.net
Joe Boven
Communication Coordinator
Colorado Progressive Coalition
Cell: 303-332-8614
joe@progressivecoalition.org
For Immediate Release:
Family
May Be Forced From Farm After Apparent Fraud By Bank
Eagle County -- Monday, July 30, 2012
HSBC
bank is moving to remove an Eagle County family from their farm despite
evidence the Fasis were the victims of fraud perpetrated by Wells
Fargo. Though the family attempted to reconcile with the foreclosing
parties and file bankruptcy to protect their home, the Fasis are once
again facing a hearing by HSBC to lift a stay on their home';s
foreclosure on August 14. If the court agrees with HSBC's attorneys,
another Colorado family will lose their farm.
Donna and Douglas Fasi were at the brink of being removed from their
long-time home last month when they were able to block their eviction
by filing for bankruptcy. After finding themselves in foreclosure due to
a series of seemingly illegal actions taken by Wells Fargo, including
forged documents that put the couple into an ARM loan and misinformation
that caused the family to believe they were required to fall behind on
payments on their farm, the Fasi's are now spending the last pennies of
their life savings on advocates to help them keep the farm. But they may
not have enough pennies.
Wells Fargo made the decision to foreclose on the Fasi Home earlier
this year without acknowledging their responsibility for the conditions
that could remove the Fasis from their farm. Wells Fargo allegedly sold
the loan to HSBC Bank USA, who bid half the farms value at a public
trustee sale and started eviction proceedings. With their backs against
the wall, Douglas Fasi entered into bankruptcy to save the family home.
Now, HSBC is again moving to evict the Eagle county small business
owners from their long-time residence.
“We were successful in getting the last eviction stopped only
because I had to file a bankruptcy for my husband,” said Donna Fasi.
“Now, the foreclosure attorneys have already filed to have the automatic
stay lifted so they can evict us again.”
Having lost $300,000 dollars in equity on the property and years of
hard work and labor to turn the farm into their home, the Fasi family is
unwilling to lose more. They are trying to raise funds from friends,
family, neighbor and the community for a legal battle they believe will
help to set precedent that will protect all Colorado property owners.
“If we can do this thing in Denver in front of a jury trial it will
help so many others in the same situation because it will set a
precedent and will put us in a position to demand that Wells Fargo and
HSBC Bank and the foreclosing attorneys be fined and charged with
criminal charges for fraud, and we intend to ask for this.”
“When the lawyer reviewed our paperwork and has discovered that the
judge ruled on the wrong statute in our case, and ruled also on the
Fraud Note telling us we could not raise a claim of fraud against HSBC
bank because that Note was not signed by us. This has turned out to be a
very bizarre ruling because the original Note I signed at the closing,
the fixed rate mortgage Note, is signed and initialed by me. You would
think the judge would understand that of course I did not sign the Fraud
Note, and that Note is what HSBC bank is using against us to
foreclose.”
Fasi said that her lawyers have also found clear evidence the HSBC
did not own the right to foreclose on the family farm, and she will be
holding nothing back in going after those bank employees who she says
fraudulently are trying to remove her from her home – if she can get the
money to do it.
Douglas Fasi is currently in Chapter 13 Bankruptcy and cannot sell
assets to pay legal fees. While they have been garnering some family
support it is not nearly enough to pay for the $20,000 they need just to
begin the process. They are hoping that community members, friends and
neighbors will help her win her case so that her own home will be saved
and others can benefit from the ruling.
See the Westword story for more background: http://www.google.com/url?sa=
Colorado Progressive Coalition is a multicultural and cross-issue coalition of individuals and organizations empowering people through grassroots community organizing to have a voice in the policy decisions that affect our lives. Our vision is a state where everyone, not just the privileged and powerful, has the opportunity participate in our political, economic, and social democracy.
