Tuesday, February 22, 2011

Tea Party, go away! TWO important protests today

Just got the word that the Tea Party plans to meet and rally a few feet away (and half an hour before)  the Jobs with Justice rally for jobs at 4pm on the steps of Springfield City Hall.  Word is, Don't engage them (the Tea Party) in any way.  
 If these folks read The Grapes of Wrath in high school, guess they've forgotten the lessons of what happens when you drive wages down.
 Come rally and show support for the Wisconsin public employees-- and for all people fighting for a decent wage and the right to bargain collectively. 

But before the rally this afternoon, there's another important rally at 10:30.
10:30 AM (auction at 11 AM)
1179 Saint James Avenue, Springfield, MA

Ms. Williams bought their home in 2000 with her husband for $81,000. Her husband passed away 6 months later. Since then she has worked diligently to keep her home, along with the help of her children &; grandchildren. Now 70 years old, last year, following a year-long bout with breast cancer, Ms. Williams signed a modification with the bank, only to find her principal balance over $100,000. Now, MidFirst bank is moving to foreclose on Ms. Williams instead of working with her on a modification that would reduce the principal balance and make her home affordable. 
Here’s a little known fact of the mortgage/foreclosure crisis.  Many homeowners who cannot pay the inflated mortgages of the housing bubble CAN afford to pay a mortgage at the current real value.  When a bank like MidFirst forecloses and evicts the homeowner, that bank will then sell the home for the current real value (often after a long delay) or sit on the home as a vacant property.  But, if they are going to do that, why not sell it back to the former owner at that value?  Even better, before foreclosure, they could sell at a short sale to the owner or do a loan modification with a principal reduction.  They could even attach conditions preventing a big profit if values go up again. But the banks are refusing to do this despite billions in taxpayer bailouts and recent profits! 
We are protesting to do something very specific - send a message to any potential investor, and to MidFirst Bank, that we will resist any attempted eviction of this family.  If your business plan involves eviction, you might as well go home!
  • Stop this foreclosure and work with Ms. Williams on a solution that would reduce the principal amount owed, keep
  • If the home is foreclosed, DON'T EVICT! Accept reasonable rent from the Williams family or sell them the home back at the current market value! 
For more information see www.springfieldnooneleaves.org or call Bank Tenant Organizer, Malcolm at 718-666-6872

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1 comment:

Paula McKenzie, PhD said...

The Tea Party must go. Please get rid of that kind of thinking. I do not understand their backward thinking. thank you!