[COMM-ORG] PICO foreclosure organizing
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Fri Oct 15 19:55:30 CDT 2010
From: Mary Rabon <news at piconetwork.org>
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More and more public officials and organizations are calling for a
freeze on foreclosures until banks fix a foreclosure system that we now
know is riddled with fraud and unfairness. Read our blog entry,
"Foreclosure Fraud is the Tip of the Iceberg"
On Monday, PICO leaders from my organization here in Kansas City, MO -
Communities Creating Opportunity - held a joint press conference with
Mayor Mark Funkhouser to ask the Missouri Attorney General to call for a
temporary moratorium on foreclosures. We are pleased that a coalition of
50 State Attorneys General have now announced a joint investigation into
fraudulent foreclosure practices by the nation's largest banks.
For the past two years families trying to avoid foreclosure have told
CCO that their banks are losing their paperwork and not returning their
calls. Often people cannot even figure out who owns their mortgage. Now,
banks have admitted fabricating documents, forging signatures and
illegally forcing people out of their homes. This is serious. The laws
that the banks are breaking in their rush to foreclose are designed to
give people a chance to save their homes.
You can take one easy step today to help fix the problem by asking your
bank for a copy of your note. Find out if your bank lost your mortgage
. You can do this if you own a home, even if you're not facing
By flooding the market with unnecessary foreclosures banks have been
hurting all of us. Foreclosures are bad for the economy and bad for
neighborhood housing values. We need less, not more, foreclosures.
The best way to stabilize the housing market is for banks to work with
homeowners to provide sustainable loan modifications that start with
reducing principal. The greatest unfairness of the foreclosure crisis is
that the very banks that were saved by taxpayers have done so little to
help families and the economy recover. That needs to change.
Communities Creating Opportunity
Kansas City, MO
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