Calvin McKinney, 50, of Austin
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PREDICAMENT: He had lived in his home for 17 years before he lost his job at a printing company, fell behind on payments and landed in foreclosure court. He asked the bank to reduce payments by $600 per month, but it refused.
OBAMA PLAN: “I hope it helps, that it gives me a chance to keep my place,” he said. “A guy like me … at least I should be given a chance to work things out.”
Beatrice and Gerrit Fitzgerald, 41 and 55, of Chicago Ridge
PREDICAMENT: He hurt his back at work as a union carpenter, had surgery and went on disability. She was already on disability. They fell behind on their mortgage, and at one time bought groceries only once a month. Ultimately they dipped into Gerrit’s pension savings to catch up on the mortgage, which they paid up Wednesday, escaping foreclosure. The couple said they’re in the clear — for now. “We’re right on the edge,” he said.
OBAMA PLAN: They think it’s headed in the right direction. Beatrice believes the government needs to put a moratorium on foreclosures while it investigates how banks are handling them.
“It took three weeks for us to find a person, a real person not an automated message, at the bank to talk to,” she said.
Joaquin C. Hernandez and daughter Maria Camacho, 66 and 35, of Logan Square
PREDICAMENT: He had paid off his home, which he’s lived in for 22 years, but then took out a $150,000 loan to remodel. He put in a new heater, electricity and walls but then fell terminally ill. With medical bills to pay, he fell behind on the mortgage and landed in foreclosure proceedings. His daughter tried selling the house and even told the bank it could just take it. “They don’t want to work with us,” Camacho said.
OBAMA PLAN: They don’t trust it will really help people like them. “The money goes directly to the banks and the bank executives,” she said. “They do what they want. … They don’t help people.”
Luis Gutierrez (above), 32, of Chicago and his Realtor, Joseph Washick, 44
PREDICAMENT: Gutierrez started losing work as a construction worker, fell behind in payments and got a foreclosure notice on his Lyons home. The two were in foreclosure court Wednesday to show there was a cash offer for the house. It was a short sale, where the seller gets less than what is owed. The judge refused to give him another 30 days to finalize the offer and ruled the house would be foreclosed. This is the third time in a year Washick has attempted a short sale with a cash offer. Each time, the bank refused and the homes went into foreclosure. The banks later sold those same homes for less, Washick said. “What’s the point?” he wondered.
OBAMA PLAN: They both think it will help.