I have been trying to gather support with the politicians to help someone with their financing of their business. This is an existing business, where the owners have great credit, pay their bills on time and the building has equity. The bummer part is that the balloon on the mortgage came at a bad time - March 2009.
The business is my kids school. My children have attended this school for the last five years and have excelled beyond what they would have done in public school. Jacob, my little guy with Aspergers Syndrome, may have some rough days, but at least he is learning. Emily is reading at 6th grade level (she is only 8) and baby Austin is doing 1st grade math and reading. The staff and the administration have been wonderful and my kids have flourished.
When I heard that the JP Morgan Chase (remember the bank with 250 Billion in TARP money) decided not to renew the mortgage, I became angry. Me, being the go-to-it person that I am, decided to write all the Congress people from Michigan (and yes, I even wrote to Obama and Biden) asking them for help in this matter. Our first call came from our US Representative, Candice Miller (R-MI), on Tuesday. Their office was understanding and told the owner she would be receiving a phone call from Chase in the next few days. Great news!! Today, Thursday, Stabenows (D-MI) and basically told the owner that it was "too bad", "sell the building" and "we can't do anthing for you". WHAT??? Doesn't this idiot (aka Stabenow) work for us - the Michigan residents? Isn't Chase using OUR money from TARP funds to purchase new jets (2) and a new hanger for their new toys?
If the owner had done something wrong, I would be the first to tell them, but they have not. The only thing they are guilty of is the bad timing of their balloon on their mortgage for their business building. They are hard working, dedicated people who love what they do and love the children. They pay their bills, have great credit and never were late with the mortgage payments, along with the building having some major equity.
Tomorrow I will write letters to the CEO and all the Board members of JP Morgan Chase telling them of our issue. I will not give up!
And yes, I will keep you posted!
By the way, if anyone has any ideas on how we can get this thing to work, drop me an email.
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