community stories for southern Nevada

Posts Tagged ‘hardship’

Seniors dipping into Social Security

Job losses have pushed seniors to claim early retirement benefits, the AP reports. And this snip from an article in the Money Times.

For the time, in close to three decades, the Social Security will be compelled to dole out more in benefits than it collects in taxes during the next coupe of years.

The reason is huge job losses and an increase in the early retirement claims from laid-off people. For the time, in close to three decades, the Social Security will be compelled to dole out more in benefits than it collects in taxes during the next coupe of years.

The reason is huge job losses and an increase in the early retirement claims from laid-off people.


Fantasy loan-mod football

Last week I blogged about Bobbi Giguere, the 41 year-old single mom who had the unusual opportunity to grill a Wells Fargo Exec in court about her stalled loan modification. Giguere had been working “through the system” for months, and getting nowhere (…well, she was actually headed somewhere….While Wells Fargo strung her along, the company was simultaneously moving to foreclose on her home…!) At her wits end, Giguere wrote to her bankruptcy judge and ended up getting to do what thousands of frustrated consumers can only dream about. Confront someone in charge:

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Bobbi Giguere joined us today on KNPR’s State of Nevada to continue the conversation. We were also joined by Nevada Bankers Association president Bill Uffelman, and Bill Buzenberg, Executive Director of the Center for Public Integrity:

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Judges’ Frustration Grows With Mortgage Servicers

The New York Times writes about a woman who was given the runaround from her lender. And she decided to go to the mat–in court. Last week, an angry judge gave her an opportuntiy to grill her lender’s attorneys in court…article is here.

Bobbi Giguere had no luck in securing a loan modification from her mortgage servicer, Wells Fargo. For months, she had sent the bank the financial documents it requested to process her modification. But each time she called to check on the request, she was told to send her paperwork again.

 “I submitted the paperwork three times, and nothing happened,” said Mrs. Giguere, 41, who has a high school education and worked as restaurant manager before losing her job.

On Thursday, something happened. She questioned a Wells Fargo official about the bank’s lack of response — under oath.

The spectacle of a high-ranking banking executive being grilled by an ordinary homeowner was the result of an unusual decision by Judge Randolph J. Haines of the United States Bankruptcy Court to summon a senior executive from Wells Fargo to appear in Mrs. Giguere’s bankruptcy case.