Posted 5 years ago on Feb. 19, 2012, 9:27 p.m. EST by TakeBacktheBlock
This content is user submitted and not an official statement
Eloise Pittman bought her home at 404 Glen Iris Dr in 1953. After working in the education system for years, she finally settled in to a life of retirement. At 62 years old, Chase approved her for a $312,000 loan. This loan would have cost her a million dollars to repay. As a senior living on a fixed income she never should have been offered this loan in the first place. The bank gave her this predatory loan knowing she wouldn’t be able to pay it back.
Mrs. Pittman passed away in November of 2011 and with her the debt. However, chase is now threatening to take the home based on the predatory loan given unless the family responds to their options which are either buy the house back at current market value (price wont be provided until the house is assessed) or accept the $2,500 cash for keys offer. These are not acceptable options. We will continue to take offensive action against Chase Bank until a situation forms that doesnt set the Pittmans up to fail in the future.
This is their home. We plan on keeping it that way, but as we fight this long and intense battle, the Pittman family needs your financial support. While struggling to pay off a predatory loan at 10%+ interest, Mrs. Eloise Pittman also fell behind on everyday bills. The Pittman family is continuously paying off expensive bills while also raising money for a headstone for their grandmother.
Thank you for reading. Thank you for helping.
--The pittman family, the occupiers of 404 glen iris, occupy atlanta.