Excelsior Homeowner: 'A Person Shouldn't Have to File Bankruptcy to Keep Their Home'

Courtesy of The Uptake

Peter Eisert, a homeowner from Excelsior, testified at a foreclosure moratorium hearing held by Minnesota State Sen. Scott Dibble and Rep. Karen Clark (DFL, Minneapolis). Their bill, HF 1886/SF 1521, would provide a temporary moratorium on foreclosures in Minnesota.

The legislation is largely symbolic, though, because the Republicans in power are unlikely to push it forward.

Eisert claims he was misled by Wells Fargo Home Mortgage and unable to get a home loan modification. The value of his home, where he has lived since 1994, has fallen to $96,000 and he has fallen behind on payments. Eisert was forced to file bankruptcy in order to remain in the home. He has requested accounting information from the bank but says he has never received it. To add insult to injury, during a recent conversation with a loan modification officer, Eisert was asked if he was recording the conversation, and that if he was, he was told the conversation would not continue.

"A person should not have to file bankruptcy to keep their home," said Eisert. "This has caused me extreme stress and has affected my life, my sleeping, my eating, my health and my ability to work, my friendships and my relationships with my family. My dream is to have a peaceful, safe place to lay my head."

Rep. Clark offered that she or her colleagues could reach out to Wells Fargo?s lobbyists who often visit the State Capitol and attempt to help Eisert.