“I feel like a weight has been lifted off my shoulders,” Bailey said. “I love my home and my community and I am so blessed to be able to stay here. I am thankful for the support of my neighbors and the nation.”
The terms of the agreement from her mortgage-holder, JPMorgan Chase, are sealed, but previous settlement attempts involved a reverse mortgage that would let the new lender sell her home when she dies.
Occupy Nashville took up Bailey’s cause last month and received national attention for their efforts. Bailey was seeking to refinance her mortgage with JP Morgan Chase which would have allowed her to remain in her home for free until she dies, but the bank initially refused.
A petition at Change.org collected over 80,000 signatures, and prominent civil rights activists like Cornel West and Gary Flowers, the Executive Director of the Black Leadership Forum voiced their support for Bailey as well.