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LOCAL Announcement :: Poverty

National Protest on Foreclosures

AD HOC NATIONAL NETWORK TO STOP FORECLOSURES AND EVICTIONS- BAILOUT PEOPLE NOT BANKS
THE MORTGAGE BANKERS ASSOCIATION (MBA)—
the biggest national lobby of all the banks—including the criminal predatory lenders, that are busy evicting your neighbors, relatives, friends and maybe you from your home—is holding it's annual policy conference in Washington D.C., on April 16 and 17. Their main goal is to make sure that bankers continue to get bailed out while families get tossed out!

Losing our homes: A NATIONAL EMERGENCY: And
it's getting worse. One in every 4 subprime mortgage victims are either in or near fore­closure. Soon, almost 10% of the homes of working families across the country could be in foreclosure. For these families,
this isn't a recession—it's a depression and
a national emergency that calls for emergency measures.

A mORATORIUM ON FORECLOSURES & EVICTIONS —politicians have the authority to do it. Many may
not realize that Governors, State Legislatures, the President and Congress (as well as the department
of Housing and Urban Development) have the
statutory authority to declare a moratorium on home foreclosures and evictions during a time of either natural or economic emergency disaster (it's
important to include evictions because record numbers of renters are also losing their apartments).

This fight is for all of us. Come to D.C. on April 16 bring a bus, van, or a carload of people. Whether you are directly effected by the home foreclosure epidemic, or just outraged that the Government seems ready to give hundreds of billions of dollars to rescue banks from failing while doing nothing for those who are losing their homes, join people from around the country in Washington, D.C. on April 16 to shake up the bankers and wake up the government. Let's not wait until we're all homeless.

UNITE AND ORGANIZE=SURVIVAL Whether it's rising gas and food prices • the lack of health care • losing our jobs • having our wages cut • sinking further into credit card, student loan, or medical debt • or budget cuts • or the destruction of public housing • or ending this war that is costing lives and almost a half a billion dollars a day • surviving hard times is going require that we stick together and organize.


Contact: The Ad Hoc National Network to Stop Foreclosures & Evictions
A fast growing network of activists organizing in every region of the country.

www.StopForeclosuresandEvictions.org 212-633-6646
 
 
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Re: National Protest on Foreclosures

I understand your point of view, I really do. Sub prime adjustable rate mortgages caught a lot of people with the whole "low payment" thing. But then the bottom fell out, rates soared, and what used to be a 1200.00 payment is now 2000.00

Sucks ass.

What I don't get though, is do people get into these sub prime loans thinking the fed will never change the rate? Or were they just trying to buy a house, and ARM offered lower closong costs? I don't see why anyone in their right mind would go with an adjustable rate, or at least convert it to a fixed when the economy started getting all screwy.

I dunno... I think people need to be educated on what a mortgage really is, how it affects the economy, how hedge funds get hammered when foreclosures happen, the whole chain reaction of economic melt-down.
 

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