About

My name is Blake Naleid.  I’m an independent contractor working in the TV/Film industry in Austin, TX.  In 2009, the bank foreclosed on my home which also houses my studio that I designed and built with my bare hands. After several months, of falling behind on the mortgage due to unemployment, I had enough income to resume payments and catch up on the delinquency.  For two years, Wells Fargo and their servicing company advertised their willingness to help me save my home but gave me the run around when I applied for a loan modification.  I recorded every phone call, letter, and all forms of correspondence.  One of my story threads documents the entire fiasco and how it has affected me personally.  After two years of diligent work towards a modification, I sued Deutche Bank and Wells Fargo for wrongful foreclosure.  Industry experts have written books documenting the overall systemic faults in the economy that caused the financial ruin of millions of Americans who had reasonable faith in the system.  While some steps have been taken to fix the banking structure, no one (not even president Obama) has stepped in to help homeowners.  The problem has been swept under the rug and tens of thousands of culpable bankers, brokers & bank employees have been let off scott-free.  I believe I have the evidence needed to shed some light on the subject from the perspective of regular people.

The blog is journal of the events of the foreclosure, the loan modification application, lawsuits and the fallout.  It’s not just a bunch of facts and documents but, using my educational background in advertising fraud, misrepresentation, and deceptiveness, break down the info to show what it all means in the real world; the social obligations that institutional banks have skirted in the name of short term profits.  The lawsuit is over and documenting that process has also given me first hand insight into how the legal system has been manipulated to remove common sense protections creating a dangerous situation for the people of the world .   I think my lawsuit and others like it are important for the push for re-regulation of the market to prevent such a disaster from happening again.  As it stands now, there has been no movement towards consumer protection for homeowners, In fact the Texas court system has recently ruled that homeowners are not “consumers” under the extant consumer protection laws.  I speculate that this is a move influenced by those that oppose any legislation that makes conducting business more expensive even if the cost savings are at the expense of their citizens’ natural rights.  There are even contemporary economic theories that decry any government intervention.  I’m no finance expert, but under the circumstances that we’ve seen in the financial crisis, I think it’s safe to say that the application of these theories with disregard for their effects on individuals and families is intellectualism at its worst and demonstrates a lack of circumspect governance.

To follow my blog via email, please submit your email address using the “Follow” widget in the sidebar to the right.  If you have any feedback or would like to contact me, please use the form on the contact page and I’ll get back with you.  If you have a story about how you were affected by a wrongful foreclosure, please send it to be archived.  Correspondence can be send via email or regular mail.

If you would like to help me in a grass roots, consumer protection effort against abuses that are rampant in the mortgage industry and overlooked by state and federal governments, please visit the contributions page.

Thanks for checking out my story.

,Blake

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