Too Big to Fail, Too Big to Jail?
Millions of underwater homeowners have paid the price for Wall Street's crimes. From mortgage fraud to predatory lending, it's time to put bankers in jail.
Join Occupy Homes, dozens of underwater homeowners, and hundreds of allies from across the country as we take action and risk arrest at the Department of Justice.
Bring Justice to Justice Rally: May 20th @ 1pm Gather: Freedom Plaza, 14th Street and Pennsylvania Ave NW – March to Department of Justice @ 1:30pm» Read More
How to use direct action to fight foreclosure
Saturday May 18, 2013
12:30pm - 6:00pm
1800 Massachusetts Ave. NW
Washington, DC 20036
Occupy Our Homes began with the simple idea of bringing the bold energy of the Occupy movement into communities facing housing crisis to build power through victories for the 99%. Over the last year and a half, homeowners and activists around the country have fought back against the banks, stopping evictions and winning homes, churches, and community landmarks, while relieving debt and reclaiming land.
Five years after an economic meltdown precipitated by Wall Street greed, fraud, and recklessness in the housing market, Americans continue to face an epidemic of unjust foreclosures. While homeowners and renters seek help to keep their homes, banks have rushed to foreclose and evict, and in too many communities, homes remain vacant while neighbors sleep on the street.
After years of false promises to hold banks accountable, and a lack of any real relief for homeowners, people are fed up and ready to take action to fight back. On May 20th, dozens of homeowners who are underwater, facing foreclosure, or had their homes foreclosed on illegally by the banks are joining with hundreds of allies from around the country in Washington D.C. to risk arrest and demand an end to the Department of Justice's "too big to fail, too big to jail" policy.
As a new housing bubble fueled by Wall Street speculation is forming, it's clear that the financial industry didn't learn their lesson from the last mess. It's more important than ever for us to take action to demand meaningful relief for homeowners and prosecutions for the criminals at the top.
Occupy Our Homes, the Home Defenders League, and others are joining fed-up homeowners who are ready to demand action!
Join us the week of May 20th! Wall Street Accountability Week of Action May 18 - 23» Read More
By the time Michael Bentin, a homeowner in Portage, Michigan reached out to Occupy Our Homes for help, he had just 10 short days until his family was scheduled to be evicted from his home.
Michael had been trying unsuccessfully for years to obtain a loan modification from Bank of America. After getting the runaround from different representatives, his options started to run out. Last year, Bank of America sold Michaels home in a foreclosure sale, and didn't even bother to notify him that they had done so. The only notice he got was a letter from the bank's attorney letting him know his 6 month redemption period had ended.
Like many in Michigan, we were hit hard by the economic crisis, and have yet to pull out lives and finances out. Soon, we started to fall behind on our mortgage payments. Bank of America representatives called to try and find out why we were falling behind, and I explained our situation. I gave them all my income and expense information, and had hope as they claimed I was being reviewed for a modification.
This morning a small delegation delivered a letter from Rose McGee to Fannie Mae headquarters in Washington, D.C., demanding a fair deal with principal reduction.
The delegation was led by Caylin Crawford, a St. Paul homeowner who recently won an unprecedented settlement with Freddie Mac over her own foreclosure. Fannie and Freddie are both administered by FHFA, a federal housing agency led by Ed DeMarco, who has consistently stood in the way of principal reduction--reducing mortgages to their market value. Occupy Homes MN has partnered with New Bottom Line and Right to the City's campaign to Dump DeMarco. Caylin was in D.C. for a court hearing over her recent arrest after interrupting DeMarco's testimony in front of Congress.
Click through for the text of Rose's letter to Fannie Mae CEO Timothy Mayopoulos.» Read More