Michael Mullady (San Francisco State University)
American Nightmare
Bronze
Domestic Picture Story
Following nearly a decade of exponential growth in the housing market, the laws of gravity have returned and we are now facing one of the biggest financial crises of the past half century. Declining home values and sharp interest rate resets have combined to drive foreclosures to record levels, and the losses to homeowners, communities, and investors are threatening to throw the economy into recession. California, which saw some of the greatest increases in housing prices, is being hit particularly hard by the foreclosure crisis. California has the second highest foreclosure rate in the country, with one filing for every 88 households. In Antioch, CA, many of the homeowners being most affected by the crisis are immigrants who got locked into bank loans and are now fighting them to keep their homes. After ten years of living in the house he made into a home, Jamie Silahua and his family were forced out by their bank after failing to keep up with the minimum payment, which increased excessively. (caption) Jamie Silahua moves his belongings from the home he purchased 9 years ago in Antioch, CA while his friend Edwardo prays in the background. The two are very religious and members of the Contra Costa Interfaith Supporting Community Organization.
Story: American Nightmare
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The Silahua's are one of the many families in Contra Costa County who have had there home foreclosed. With the economy in turmoil and the rising bank payments, Jamie was forced to leave his home after not working enough to make the minimum payment. Jamie plans to take the bank to court in the future months and hopes to regain his home.
Story: American Nightmare
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While his daughters Aimee and Emily play in the living room, Jamie Silahua moves his belongings from the home he purchased 9 years ago in Antioch, CA. The Silahua's are one of the many families in Contra Costa County who have had there home foreclosed. With the economy in turmoil and the rising bank payments, Jamie was forced to leave his home after not working enough to make the minimum payment. Jamie plans to take the bank to court in the future months and hopes to regain his home.
Story: American Nightmare
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After being unable to make the minimum payment on his loan, Jamie Silahua's home was foreclosed and became a bank approved short sale.
Story: American Nightmare
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Police Officers, bank representatives and real estate agents are all present on eviction day for Jamie Silahua. As the cop clear the home, the locks are then changed and he is officially forced to leave.
Story: American Nightmare
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Officers from the Contra Costa County Sheriffs Department, who names were withheld, search Jamie's house on the date of eviction. Jamie and his family had already relocated to a new apartment. Officers are required to search every foreclosed home with their weapons drawn during the eviction process.
Story: American Nightmare
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Jamie goes over legal documents as he meets with lawyers, city council members and members of the Contra Costa Interfaith Supporting Community Organization to discuss suing the bank. Jamie want to take the bank to court and hopes to win back his home. He plans to take the bank to court in February of 2010, after himself and his family have time to relax from all the stress the have been dealing with.
Story: American Nightmare
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Jamie sits in his crowded apartment bedroom. After loosing his home, he had to relocate his family of 5 to a smaller 2 bedroom apartment. Jamie says he will not stop fighting the bank and hopes to have his home and life back to normal by next year.
Story: American Nightmare
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Jamie leaves his foreclosed home for the last time, or until he finds out the verdict of the court case he plans to have.