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Thursday, August 11, 2011

Bend's Foreclosure Soldier Story in the Headlines Again

Posted By on Thu, Aug 11, 2011 at 11:07 PM

The Bend father who has become the symbol of homeowner suffering at the hands of big banks amidst the foreclosure crisis made headlines again this week when his story was featured by the LA Times. Times reporter Kim Murphy traveled to Bend to interview Tim Collette, a contractor who fell behind on his mortgage, and faces the prospect of losing the home that he shares with his son, a U.S. soldier serving in Basra. Collette is fighting to save his home and his story has been featured locally and nationally including by left wing pundit and documentarian Michael Moore. Murphy profiled Collette in conjuction with his son Aaron’s return home for a temporary leave. Collette had asked the bank to allow him to remain in his home during his son’s visit and the lender J.P. Morgan, which recently scheduled Collette’s house for auction, agreed. However, the bank has refused to modify Collette’s loan, even though he has returned to work and is ready to make payments. Instead the bank has insisted that Collette make $9,000 in missed payments, or allow the bank to take over the loan on the home, which Collette bought with a $125,000 down payment.  


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