Saturday, March 10, 2012
Dear friends of Francesca Lia Block,
We've decided to create this website to put as much pressure as possible on Bank of America, who are dragging their feet on working with Francesca Lia Block on refinancing her home, threatening her with foreclosure instead. You know Francesca as a highly respected working author, teacher, and single mother of two. And if you're a fan of Francesca's books, or one of her many students who've spent time at her home, the Faerie Cottage, you know how important that home is to her work, and you will want to know what's going on, and how you can help.
The story in brief: Francesca has good credit and an up-to-date mortgage for an over-encumbered property (which has declined in value due to current market conditions and the recession). In other words her house is, as they say, "underwater." In order to avoid foreclosure, she has been trying for an entire year to get the bank to modify the existing (and incredibly unfair) interest-only loan on the property, since it has declined so much in value.
You may have heard about Obama’s plan to help people in a similar situation with Bank of America, or read various articles about this situation on the Internet (with Bank of America claiming they are trying to help their customers), so some of what follows will probably sound familiar to you. Click on the sidebar for more information, a timeline, and a direct link so that you can contact Bank of America yourself to voice your dissatisfaction with how they are treating their customer and our friend.
And above all, please help in spreading the word about this situation! Link to this website and tell other Francesca friends, so we do everything we can to help save the Faerie Cottage for her, her children, their friends, and all of us who love her.