Protesters took to a downtown Bank of America branch and Fannie Mae’s corporate offices in Chicago Tuesday to urge one of the nation’s largest home mortgage servicers and the largest home mortgage investor to change their lending and foreclosure policies. Progress Illinois was there for the action.
light of recent whistleblower allegations from former employees
detailing Bank of America’s purported loan modification and foreclosure
abuses, protesters descended upon a downtown Chicago branch Tuesday.
Organized by Action Now,
two members of the grassroots community organization sought loan
modifications from bank officials while a gathering of roughly two-dozen
protesters marched and chanted outside.
“We’re trying to put
pressure on the bank to do what they’re supposed to do — they’re
supposed to help homeowners,” said Tim Rivard, foreclosure outreach
coordinator for Action Now. “If we get the bank to start working with
us, or working with people who are in trouble with their mortgages, this
could set a good precedent.”
Completed foreclosure auctions more than doubled
in the Chicago six-county region from the first half of 2011 to the
first half of 2012, according to data put together by Chicago's
Members of the faith-based power network IIRON
signed a covenant on Sunday for economic justice and called on Attorney
General Lisa Madigan and other elected officials to sign it in order to
create a more just economy.
The following was written by Mike Reed of Sheridan, IL, courtesy of MoveOn.org.
State Representative Constance Howard (D-Chicago), working in conjunction with
the NAACP’s Far South Suburban branch, introduced on February 15 a bill
in the state legislature which would make fraudulent foreclosures in
Illinois a crime, with the perpetrators facing both criminal and civil