A woman who voted for Donald Trump is now regretting her choice after the President-elect chose Steve Mnuchin to be his Secretary of Treasury.
Teena Colebrook explained to the Associated Press that she had voted for Trump hoping he would keep his pledge to remove the elites from Washington. However, she became truly disenchanted when he chose Mnuchin, partly because it showed he’s “now backing his buddies.”
But also because Mnuchin was responsible for the loss of her home and source of income.
Mnuchin used to be an owner of OneWest, a bank formed in the aftermath of the financial crisis of 2007-08 that acquired the assets of subprime mortgage lender IndyMac. Shortly after acquiring the loans from IndyMac, OneWest began foreclosing on thousands of them.
Colebrook used to own a triplex in California where she rented out two units. Her lender was purchased by OneWest in 2009. By that time, she had an interest-only loan and was dealing with revenue issues on her property as tenants were caught up in the economic downturn.
She explained that she tried to modify the loan through government programs available but got nowhere with OneWest.
Over five years, she tried unsuccessfully to adjust her loan with OneWest through the Treasury Department’s Home Affordable Modification Program. But she said that One West Bank lost paperwork, provided conflicting statements about ownership of the loan and fees and submitted charges that were unverified and caused her loan balance to balloon. By the time she lost her home in foreclosure in April 2015, the payoff balance totaled $517,662.
In regards to her feeling about her vote for Trump, Colebrook didn’t mince words.
“I just wish that I had not voted,” said Colebrook, 59. “I have no faith in our government anymore at all. They all promise you the world at the end of a stick and take it away once they get in.”
It was recently reported that OneWest foreclosed on a 90-year-old woman over a 27-cent payment error. Mnuchin, a former Goldman Sachs banker, and his partners sold OneWest in 2014 for a price of $3.4 billion.