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Bank locks out homeowners

Eight homeowners facing foreclosure will return Friday to a Bank of America branch in Albany Park where they were locked out last week.

Like other community groups, Centro Autonomo of Albany Park has held many similar actions at bank branches, with foreclosure victims and their supporters showing up to ask for face-to-face attention – and often they get results like loan modifications, principal write-downs, or just postponements, said Roberto de la Riva.

“Usually when we show up, the bank sends out a p.r. representative and we can have a decent conversation — we can talk to a flesh-and-blood person, get them to look at the case, and often we end up moving forward,” he said.

But when they showed up at the Bank of America branch at 4747 W. Irving last Friday, the bank locked the doors.

So Centro Autonomo and eight Bank of America clients are returning to the branch on Friday, October 12 at 12 noon.

The homeowners include Luis Ponsiano, whose whom went into forclosure after the bank stopped making autonomic withdrawals – which he could afford – from his account, according to CAAP.

There’s Lisa Nadig-Mehdipour, whose troubles started with a difficult divorce.  After repeated demands for resubmission of paperwork from the bank, her application was lost.  A month ago another BOA department told her to submit a new application, and a third department initiated foreclosure.

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Two actions target Fannie Mae

Four years after Fannie Mae and Freddie Mac were put under federal conservatorship, actions tomorrow and next Monday are targeting the agencies for blocking principal reduction in mortgage refinances.

On Wednesday, September 5, Occupy Chicago will rally at 5 p.m. at Fannie Mae’s office at 1 S. Wacker, where families facing eviction will speak out, and then march to President Obama’s campaign headquarters, 130 E. Randolph, where protestors will be chained together with balls representing mortgage debt.

It’s part of three days of actions targeting “Obama’s failures as president” and “how both Obama and Romney fail to represent the interests of the 99 Percent,” according to a Facebook announcement.

On Monday, September 10, local community groups joined by Occupy Our Homes groups from Minneapolis and Detroit will march from Daley Plaza at noon and rally in front of Fannie Mae (1 S. Wacker) at 1 p.m. and Freddie Mac (333 W. Wacker) at 2.

That protest is part of a national day of action against Fannie and Freddie by community groups working to stop foreclosures in several cities, said Stuart Schussler of Centro Autonomo of Albany ParkChicago Anti-Eviction Campaign is also participating.

Centro Autonomo protests at bank branches to support families in foreclosure who are seeking loan modifications. Principal reduction is a vital component of affordable loan mods, Schussler said.

“Sometimes we get a favorable response from the bank” that’s servicing the mortgage, but but if Fannie or Freddie holds the morgage – as they do in a large proportion of cases – “they’ll say it’s out of our hands,” he said.

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