Manuela Alvarez has lived in the Bayview since 1994. When her family grew, she and her husband purchased a larger house down the street. However, the loan was a sub-prime loan. She had used the funds from the sale of her first home as a down payment.
When her husband was injured on the job, and the house hold income decreased, the payments continued to increase. Manuela continued to try to reach Wells Fargo to modify the loan. She did everything they told her to do to be able to qualify. When they finally offered a modification, it was just as unaffordable as the payments she was making.
After reaching out to lawyers that didn’t help her, and still attempting to modify her loan, Wells Fargo foreclosed on her home.
Manuela is working with Alliance of Californians for Community Empowerment to demand a fair modification - unlike the one Wells Fargo said was fair.