Occupy Homes activist Nick Espinosa helps save his mom's Mpls home from foreclosure

Categories: Protest News
colleen and nick Espinosa.jpg
The Uptake
Colleen with her son Nick.
Yesterday, a day before her home was scheduled to be sold during a sheriff's auction, Colleen McKeen Espinosa learned that Citibank agreed to change the terms of her mortgage so she can stay in the house she's lived in for more than 15 years.

That's a good story in its own right, but there's an added twist -- Colleen, 50, is the mother of Nick Espinosa, one of Occupy Homes MN's most visible activists.

Colleen told The Uptake that when she first received a sheriff's sale notice last winter, she told Nick, 26, that "under no circumstances was he to bring the Occupy Homes people to my home." But after meeting activists and attending a couple Occupy Homes rallies, she changed her tune.

"Seeing [homeowners] going through the same thing, that's when my mentality shifted where it more more, maybe the banks should be ashamed rather than the people that they're taking advantage of," she said.

Colleen, a registered and employed nurse, fell behind on her house payments when she stopped receiving $1,500 per month in child support because her children are now grown. After missing two payments, she tried to catch up, but Citibank told her "it was too late, it had already been turned over to the lawyers," Colleen told the Star Tribune.

Occupy Homes stepped in and started pressuring Citibank to negotiate via social media, a petition drive, and calls to the office of CEO Vikram Pandit. It was unclear whether the campaign would pay dividends until yesterday, when the bank said they would let Colleen pay the roughly $50,000 she still owes with a 7.5 year payment plan that reduces her monthly mortgage by one-third.

Nick Espinosa, in a press release, talked about the significance of his mother's victory and what he thinks banks should be forced to do to help people stay in their homes:
colleen espinosa home.jpg
Occupy Homes
Colleen's home of 16 years. She was bracing herself to lose her house during a sheriff's sale today, but at the last minute Citibank agreed to refinance her mortgage.
This negotiation represents a victory not just for our family, but for millions of families facing foreclosures across the country. Countless families could stay in their homes if banks simply modified their loans based on the actual market value and reduced their principal, instead of the price to which banks inflated them before they crashed our economy. As with Monique White and Bobby Hull here in Minneapolis, and others standing up across the nation, we see that when a community stands behind a family and draws attention to their case, the banks are more than capable of solving it. If they can fix it for our family, they can fix it for millions of others.
Colleen, for her part, has come a long ways from not wanting anything to do with Occupy Homes. Though Citibank agreed to refinance her mortgage, she said that "if anyone should be ashamed, it's the banks for tearing apart our communities after we bailed them out with our tax dollars."

More recent Occupy Homes coverage:
-- Occupy Homes can't defend Cruz family home from third eviction attempt
-- Occupy Homes successfully defends foreclosed Mpls home against 4 a.m. eviction raid [PHOTOS]

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10 comments
Kirk the Conservative Jerk
Kirk the Conservative Jerk

 Mark, she is a "registered and employed nurse" That pay average in the State of MN is over $50k Sounds like Lavishly lived lifestyle.  Stay out of the spa...

Kirk the Conservative Jerk
Kirk the Conservative Jerk

"now holding her mortgage" Very doubtful, unless you mom's home is valued at over $750,000. Fact is the Federal Government (Fannie Mae & Freddie Mac) own 95% of ALL AMERICAN HOMES valued under $750k Call back and ask "do you own the mortgage, or only service the mortgage for Fannie or Freddie? So my question for you is, who really is foreclosing on these people?

Mark Gisleson
Mark Gisleson

Right, because no one else anywhere is having any problems finding a decent paying job right now. Absolutely no one other than one liberal activist's mom, a woman Kirk knows absolutely nothing about yet feels free to judge harshly. Lavish lifestyle? I didn't notice any mention of cable, lawn service or cell phones in the article, Kirk. Are you stalking Nick's mom, or are you just making stuff up as you go? in case you have a reading disability, the article doesn't even say which state she lives in, yet in a previous comment you were vaguely citing eviction laws. So much hate, so few facts.

Mark Gisleson
Mark Gisleson

Cite the specific law and then, much more important, cite an example of it being actually enforced. Have you been reading any newspapers the last five years? People are being evicted over bank clerical errors. A few years ago a friend went to make her mortgage payment and found the office closed with a sign on the door saying they'd been bought out, but not saying who bought them. it took some frantic internet searching on my part, but we finally determined that her mortgage was now held by Bank of America. I had to scream at a BoA employee over the phone before they would give me a mailing address for her to send her money to. To this day BoA keeps cashing the checks, but has never notified her that they are now holding her mortgage. People lost their homes over this nonnotification scam and the law had nothing to do with it. How could any human being side with the banksters over their predatory mortgage scams?

Kirk the Conservative Jerk
Kirk the Conservative Jerk

I'm sure her children benefited, I never questioned that.  That is the purpose of the program. Although she clearly became dependent on the money (child support) and budgeted herself on the frivolous concept she would receive this money forever.   Time to get a second job to keep up for her lavish lifestyle which apparently was supported by money received for her children. My advice, get rid of the cable, cellphone, lawn service, etc. This is a perfect example of how ignorance is sometimes the primary factor in people's foreclosure problems.

guest
guest

Yes, & there's no way her children benefited from having a roof over their heads, is there? I guess she should have moved to Govt-subsidized housing.  Cons get so worked up they end up making no sense whatsoever.

Kirk the Conservative Jerk
Kirk the Conservative Jerk

 I believe current law allows someone to go into Arrears 13 months before they are eligible to be evicted by law enforcement.  Phony story...

Kirk the Conservative Jerk
Kirk the Conservative Jerk

"$1,500 per month in child support because her children have grown" Ya, and it's called "child support".  Not support for pathetic parents that apparently became dependent on it.  Did she not see the future.  Hello parasite, did you not think your children would grow? I wonder how she will get her hair and nails done...

Dr. J
Dr. J

Liberal bias alert!   Liberal bias alert!   Why does City Pages only report on the good things Occupy does?   The Tea Party never gets credit for all the good stuff they do.   How many gay soliders does the Tea Party have to boo before they get credit for their heroic actions?    Report on that you biased asshole Rupar. 

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