Stop Government Foreclosure of Our Homes!
Join Our Campaign Kick-Off Rally
Feb. 13, Wednesday, 5:00 PM
Make Fannie & Freddie Keep People in their Homes
Metro AFL-CIO, 600 W. Lafayette, Detroit. Secure parking in rear
Families facing foreclosure can hear from homeowners at the rally who have successfully resisted.
When homeowners are foreclosed in Michigan, it’s now U.S. government agencies– not just the banks – that are forcing many families from their homes. During the bank crisis, the government took over Fannie Mae and Freddie Mac, two failing companies that insure and buy mortgages from banks. Fannie and Freddie now refuse to help hard-pressed families Maewith loan modifications that reduce principal.
The government doesn’t even grant a hearing to Michigan homeowners trying to resist unjust foreclosures and defend their homes!
We are fighting for three things the federal government can do:
1) Due Process for All: We will announce a federal court challenge brought on behalf of a disabled Vietnam vet— and all other Michigan families facing Fannie Mae foreclosure— calling for a due-process hearing that can expose potential bank fraud and predatory lending before foreclosure. As government agencies, Fannie Mae and Freddie Mac are now governed by the 5th Amendment to the Constitution, which says that no person shall be “deprived of life, liberty, or property without due process of law.” The case opens Feb. 20 in Detroit.
2) Principal Reduction: Fannie and Freddie should help families in need by re-ducing mortgage principal to reflect current market values.
3) Halt Foreclosures & Evictions: Fannie Mae has declared moratoriums for hurricane victims. The 75,000 Michigan families foreclosed on in the last year are also victims— of mass unemployment and mortgage banking fraud.
Detroit Eviction Defense is a network of homeowners, union members, faith-based activists, and community advocates. We have rallied neighborhoods, picketed banks, blocked dumpsters, packed courtrooms, and marched on government offices to stop foreclosures and evictions. Bring your issues and support to our open meetings, Thursdays at 6 pm, location and info at www.peoplebeforebanks.org