Dozens Of Supporters Protest The Bank Of America in Southgate, MI Jan. 3 To Support The Henry Family,

For background on the Henry family’s case: http://peoplebeforebanks.org/

Also: http://moratorium-mi.org/ / http://occupyourhomes.org/

The Henrys fell behind on their Countrywide/Bank of America mortgage after Debbie had a stroke in 2008 and could no longer work full time. The housing market collapsed that same year and the value of their house fell by two-thirds. In the aftermath of the crash, Bank of America and Fannie Mae were bailed out with billions of taxpayer dollars.

Little of this, however, trickles down to the Henrys and the thousands of Detroit area families who need mortgage modifications to stay in their homes. Bank of America (BOA) rescinded an initial modification that the Henry’s paid for 10 months. Because BOA can collect the full mortgage value guaranteed by Fannie Mae, the bank has little interest in straightening out the paperwork snafus and mismanagement that confronts anyone seeking a mortgage modification. Now Fannie Mae (which bought the Henrys’ mortgage at full value) and BOA (which still services the mortgage for Fannie Mae) want to evict the Henry’s.

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