Disabled Woman, Victim of Predatory Loans Evicted from Cypress Home

Categories: Main, Occupy OC
teri royal family new.jpg
Teri Royal (bottom left) with her family during better days
Teri Royal
, a disabled woman and former business owner, was locked out from her property in Cypress yesterday under court-ordered foreclosure proceedings. 

Orange County Sheriff Department deputies stood downstairs of the two-story house as about a half-dozen volunteers, including three members of Occupy Orange County, helped Royal pack up her belongings on June 20, which also happened to be her birthday. 



Royal
was given a seven-day notice of the lockout; however, authorities never showed up on the seventh day. Lawyers filed a temporary restraining order so Royal could have more time to find a place to go. Her pro bono lawyers were in the middle of getting her another extension in the meantime, but lost the order on June 19. Royal broke her right arm this week when packing her things up. 

Royal's fertility/egg donation company went into bankruptcy in 2003. She fell ill about two years later as her body severely suffered from a gastric bypass surgery performed in 2001, leading her to go on permanent disability. Her husband is deceased and her son and daughter, in their 20s, live in the midwest. 

teri royal now.jpg
Royal leaving her foreclosed home

After Royal had trouble keeping up with her payments follwing her disability, she was told by Wachovia to refinance with Pick-a-Pay, an adjustable rate loan where payments balloon over time. Wells Fargo has since taken over the loans made by Wachovia.

Jennifer Solamani from the offices of Lenore Albert said the bank refused to help their client protect her home, even though she is disabled on a fixed income with a decent amount of equity in the house. 

In 2010, Wells Fargo made an agreement with California's attorney general to pay $2 billion back to nearly 15,000 homeowners who were conned into the predatory loans. A federal judge agreed to monitor the class action settlement agreement where Wells Fargo was supposed give foreclosure alternatives to homeowners like Royal.    

In addition to booting her out of her home, Solamani says Wells Fargo and their attorneys had the unlawful detainer judge issue an order for Royal to pay up $3,000 for an anti-deficiency state.  

With her Toyota Sienna minivan packed to the brim with her belongings, Royal tearfully left her humble abode behind as a caregiver drove her to stay with a friend for the night. 

Follow OC Weekly on Twitter @ocweekly or on Facebook!
My Voice Nation Help
8 comments
Pro Bono, Esq.
Pro Bono, Esq.

Dear 909Jeff, You are correct, I do have crocodile tears for others and I believe in giving in back to the community, a hard work ethic, and that to help others beyond ones own selfish desires shows true strength and character. Being an attorney is a "people" profession. One has to genuinely like and care about people to be in this field. Thank you for asking. I also know you are not a real estate professional. You work for the banks. The Real Estate Industry is on Teri Royal's side. They were descimated along with the Construction Industry due to the Bank's fraud. Second, not all ARMS  are Pick A Pay Loans. The rate not only readjusts but the principal balance literally grows larger then there is a trigger in the loan that creates an even larger payment which is not clearly disclosed to consumers when they sign the loan. In effect, they are not given any warning as to what is ahead for them. That is what made them unlawful, unfair and fraudulent in the first place. Third, some people believe in tort reform and that frivolous lawsuits exist. Others believe that insurance profits are too high and unrelated to risk and consumers need to be protected. There was a man who advocated for caps (limits) on medical malpractice lawsuits and he achieved that result in many states. His campaign was that it increased health costs and malpractice insurance and no one would be a doctor anymore. Later, the statistics proved that rhetoric false, but caps were already in place. One day this person became ill and suffered an injury from incompetent medical care. He then went on television and said he was wrong. I believe that this is the type of example others are attempting to relate to you.

Sheridanne
Sheridanne

Personally I have little to no patience for 'victims'. I am one who tends to see the light @ the end of many different tunnels. With that said, I have known Teri Royal for many years and I have never seen someone who has worked through so many of life's enormous adversities and has truly overcome (on her own) many hurdles. She has always been an independent soul who has worked through so many obstacles and ALWAYS has been the underdog's advocate. Life throws many curve balls and if we have our health, we can find a way to tackle any task!!! Teri's gastric bypass surgery was not due to vanity issues but due to other severe health issues. Now from complications of that surgery, her health has deteriorated and is continuing to do so in a rapid severe form. Yet Teri STILL tries to work through the pain (hence her packing) and her mind is always working. Hence her ability to have achieved amazing business goals in the past and continuing the fight for survival...now. On another note, her children are very young adults and she wants them to thrive and obtain their goals. Not many children are equipped to handle such hellacious health or financial issues. Lastly, there is a ton of bureaucracy and hypocrisy in our society, business, government, banks, loan companies. Anyone who reads the news, comments on stories, etc. is bright enough to know this and therefore comprehend the magnitude of this situation as well as its complexities. When it comes to something like this, it is definitely not black/white and it's definitely more than 50 shades of gray.

teri royal
teri royal

wells fargo was obligated by a settlement agreement to offer predatory loan victims an alternative to foreclosure via loan modification, but they denied me this opportunity, thereby breaching the settlement agreement. if the banks don't have to honor agreements that they sign, why should the homeowners be forced to?

FreeWheelin Franklin
FreeWheelin Franklin

Actually, by law, renters must be given 90 days notice before a rent increase can be imposed

Sharon Tipton
Sharon Tipton

Teri's situation is very unique. She has suffered not only disability, but also harassment from speaking the truth in light of ethical matters of former business associates (who are very powerful). Of course, personal issues don't matter to fascists and authoritarian. It's about control, profits, and maintaining one's own place in the echelons of the status quo. Where there is no room for compassion. When the majority of the middle class (even in OC) start really hurting and need help, perhaps they'll realize that we need to work together, and in order to do that, we need compassion. I hope that when you need it, someone is human enough to give it to you.

Pro Bono, Esq.
Pro Bono, Esq.

The bank defrauded millions of homeowners. There was no disclosure as to the true monthly payment. If you are a renter, it would be like your landlord signing a one year lease with you that said your rent was $2,000.00 a month then the following month demanding $8,000.00 a month and then evicting you and suing you for failing to pay $8,000.00 per month for the remaining 11 months. That is WHY the Bank settled with the AG's Office and in the Class Action and the Judge ORDERED them to modify the loans. Yet the bank refused to listen to the Judge and to the AGs office and foreclosed anyway. This is not irresponsible consumerism. It is corporate fraud. Put the blame where it lies - with the banks. It is only my limited time that Amber did not get that peice of information in her article. Pro Bono - Esq.

Melinda
Melinda

It is so easy for someone who is in good health to make negative coments. You have no idea what it is like to be in constant physical pain. I have known Teri for many years and have witnessed her physical deteriation. She is NOT a freeloader. I know other people who have delt with the banks and loan companies to save their house and still ended up losing their house anyway. It is a nightmare. Having the gastric bypass surgery because of vanity? What a laugh!

Guest
Guest

she couldn't pack and move. she broke her arm trying to. She's too frail to be forceably evicted without special accomodations. it's inhumane.

Now Trending

Anaheim Concert Tickets

From the Vault

 

Fashion

Loading...