Tuesday, August 11, 2009
Defying Foreclosure, Owner And Protesters Wait Reporting
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Defying Foreclosure, Owner And Protesters Wait Reporting
by Bill Hudson
Original Article: http://wcco.com/neweconomy/defying.foreclosure.protesters.2.1124336.html
MINNEAPOLIS (WCCO) ― Sixty-year-old Rosemary Williams lived in the home at 3138 Clinton Avenue South in Minneapolis for the past 23 years. It's the only neighborhood she's ever known, having lived on the same block for the past 55 years.
A simple blue sided, two-story home on the Minneapolis' south side has become emblematic of the nation's foreclosure crisis.
"People are willing to go to jail to get justice for Rosemary Williams," said Mick Kelly.
He's one of several dozen activists camped at the house in defiance of a sheriff's eviction order.
Sixty-year-old Rosemary Williams lived in the home at 3138 Clinton Avenue South in Minneapolis for the past 23 years. It's the only neighborhood she's ever known, having lived on the same block for the past 55 years.
Her troubles began last December when Williams lost her job and then received the terrifying news from her mortgage company. The interest rate on her GMAC adjustable rate mortgage shot up to 10 percent. You can imagine what that did to her monthly payment.
"It jumped from $1200 to $2200 in one year," said Williams.
Unemployed and looking for work, Williams was unable to make her payments and fell further and further behind. This summer, GMAC initiated foreclosure and in early July the company executed a formal eviction.
"You've got millions of people already been foreclosed on, millions more are coming. The economy cannot turn around and stop until we have a moratorium on foreclosures," Williams pointed out.
Ever since the eviction order was served by the Hennepin County Sheriff, a growing number of activists have been gathering in front of William's home. They've posted dozens of signs and banners, pointing to what they claim is an injustice being orchestrated by lenders.
Meantime, some of Williams' valuables are being moved out. At the same time, sympathetic protesters have moved in. They vow to resist any request to leave the property, assuring a mass arrest for trespassing.
Beyond the fight over bank foreclosures, activists are also critical of the government's attempt at a loan modification system. It's a system they say is also failing distressed homeowners despite the billions of dollars being pumped into the banking system.
Cheri Hankala has worked with troubled homeowners through the Minnesota Poor People's Economic Human Rights Coalition
She said the loan modification system didn't help Williams and is failing others in the same dire situation.
"We can't find one person out there that has benefited or been a part of any loan modification program in order to save their home," said Hankala.
Attempts to reach GMAC Home Mortgage to discuss this particular case were not successful. They did not return WCCO's phone calls.
So, with posters and prayer, the sit-in continues. A waiting game that will eventually conclude with a forced eviction and one woman's painful foreclosure on the front page.
by Bill Hudson
Original Article: http://wcco.com/neweconomy/defying.foreclosure.protesters.2.1124336.html
MINNEAPOLIS (WCCO) ― Sixty-year-old Rosemary Williams lived in the home at 3138 Clinton Avenue South in Minneapolis for the past 23 years. It's the only neighborhood she's ever known, having lived on the same block for the past 55 years.
A simple blue sided, two-story home on the Minneapolis' south side has become emblematic of the nation's foreclosure crisis.
"People are willing to go to jail to get justice for Rosemary Williams," said Mick Kelly.
He's one of several dozen activists camped at the house in defiance of a sheriff's eviction order.
Sixty-year-old Rosemary Williams lived in the home at 3138 Clinton Avenue South in Minneapolis for the past 23 years. It's the only neighborhood she's ever known, having lived on the same block for the past 55 years.
Her troubles began last December when Williams lost her job and then received the terrifying news from her mortgage company. The interest rate on her GMAC adjustable rate mortgage shot up to 10 percent. You can imagine what that did to her monthly payment.
"It jumped from $1200 to $2200 in one year," said Williams.
Unemployed and looking for work, Williams was unable to make her payments and fell further and further behind. This summer, GMAC initiated foreclosure and in early July the company executed a formal eviction.
"You've got millions of people already been foreclosed on, millions more are coming. The economy cannot turn around and stop until we have a moratorium on foreclosures," Williams pointed out.
Ever since the eviction order was served by the Hennepin County Sheriff, a growing number of activists have been gathering in front of William's home. They've posted dozens of signs and banners, pointing to what they claim is an injustice being orchestrated by lenders.
Meantime, some of Williams' valuables are being moved out. At the same time, sympathetic protesters have moved in. They vow to resist any request to leave the property, assuring a mass arrest for trespassing.
Beyond the fight over bank foreclosures, activists are also critical of the government's attempt at a loan modification system. It's a system they say is also failing distressed homeowners despite the billions of dollars being pumped into the banking system.
Cheri Hankala has worked with troubled homeowners through the Minnesota Poor People's Economic Human Rights Coalition
She said the loan modification system didn't help Williams and is failing others in the same dire situation.
"We can't find one person out there that has benefited or been a part of any loan modification program in order to save their home," said Hankala.
Attempts to reach GMAC Home Mortgage to discuss this particular case were not successful. They did not return WCCO's phone calls.
So, with posters and prayer, the sit-in continues. A waiting game that will eventually conclude with a forced eviction and one woman's painful foreclosure on the front page.
Labels: Cheri Honkala, Economic Justice, Eviction, Foreclosure, GMAC, Hennepin County Sheriff's Office, MN Coalition for a Peoples Bailout states, MN PPEHRC, PPEHRC, Rosemary Williams
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