Jan 292013
 

Stop Government Foreclosure of Our Homes!

Home in Detroit foreclosed by Fannie Mae

Home in Detroit foreclosed by Fannie Mae

Homeowners Battered by “Hurricane Fannie Mae” to Speak Out at Detroit Rally

Community-Labor Coalition Fights for Emergency Relief to Stop Foreclosures

Metro AFL-CIO Hall, 600 W. Lafayette, corner of 3rd St., Detroit (across from Detroit News)

Free parking in rear lot off 3rd

More info: DetroitEvictionDefense@gmail.com or call AJ at 313-429-5009

Fannie Mae, the failing mortgage lender taken over by the federal government in 2008, has since foreclosed on 20,000 families in Wayne County and thousands more in Oakland and Macomb. Homeowners who have successfully resisted eviction will talk about their experience and the need for Fannie Mae and Freddie Mac to halt foreclosures– as they have in areas devastated by Hurricane Sandy– and do what regulators are forcing banks to do: reduce mortgage principal to market values. Lawyers allied with Detroit Eviction Defense will talk about legal strategies, organizers will talk about “street heat” tactics, and activist-musician Bill Meyer will warm up the proceedings with some music.

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:

  • 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.
  • Principal Reduction: Fannie and Freddie should help families in need by reducing mortgage principal to reflect current market values. Families facing foreclosure can hear from homeowners at the rally who have successfully resisted.
  • 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.

 

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