My family wants to buy our family farm of many years — but because we are in foreclosure, US Bank (5th largest bank in the US) is refusing to even hear an offer until we have been evicted, forcing my husband and I, our seven children, and our aunt who suffers from Alzheimer’s disease to move out and compete with investors to buy back our own property!
When our family business went under due to the recession, we fell behind on payments and our family farm went into foreclosure. We have tried tirelessly to work with the bank to keep our home, but have been given the run-around by the bank each time—often calling and being forwarded to scores of representatives, none of which say they can do anything to negotiate! The bank (then Chase) even sold our mortgage at one point (to US Bank), causing even more confusion over who we should talk to. Now, we have managed to find outside financing and are trying to submit an offer to US Bank to buy back our home (in cash) so that our seven children and aunt will not have to be evicted. But US Bank, claiming bureaucratic process, is refusing to even hear or consider offers on the property until we have been evicted.
The time between eviction and when the sale of the property takes place will allow investors to come in and buy our family farm before we can even make an offer to purchase it back ourselves. According to the bank, we will be forcibly displaced on November 5th. With seven young children (ages 7-17), all of whom have grown up in the home, and my husband Bill’s ailing aunt who we provide care for, this will create a scar that may never be healed. Not only does US Bank’s bureaucratic requirement of “eviction before sale