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Foreclosures and the black community

African American families in Chicago and nationwide have been hardest hit by the foreclosure crisis, particularly with mortgage lenders exploiting a long history of discrimination in lending and housing. But what happens when they challenge the banks that have evicted millions of families and destroyed their life savings and economic security?

That’s the subject of a new book, “A Dream Foreclosed: Black American and the Fight for a Place to Call Home,” which looks at the issue through the experiences of four families. (Essence has published an excerpt featuring the story of Chicagoan Martha Biggs, now an activist with the Chicago Anti-Eviction Campaign.)

Author Laura Gottesdiener will discuss the book, joined by Martha Biggs and Ebonee Stevenson of CAEC and Jim Harbin from the Resident Association of Greater Englewood, at the Center for the Study of Race, Politics and Culture at the University of Chicago, 5733 S. University, Wednesday, October 30 at 6 p.m.

 

Related: Englewood left out of city’s foreclosure rehab program (2011).

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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King Day: Occupy the Fed, foreclosures, schools

The civil rights movement, the Occupy movement, and community organizations will come together for a series of events marking Martin Luther King’s birthday this week, including a demonstration Monday at the Federal Reserve led by African American clergy including Rev. Jesse Jackson.

At the time of his assassination, King was organizing an “occupation” of Washington D.C., and after his death thousands of people occupied Resurrection City there from May 12 to June 24, 1968, demanding jobs, housing and an economic bill of rights.

In other King Day activities, housing rights groups are stepping up the drive to occupy foreclosures, and teachers and community groups are demonstrating against school “turnarounds.”

Over a thousand community activists are expected for an Occupy the Dream event (Sunday, January 15 at 3 p.m. at People’s Church, 941 W. Lawrence), where elected officials will be called on to support jobs and tax reform, including closing corporate tax loopholes and instituting a financial transaction tax.

It’s sponsored by IIRON, a regional organizing network that includes Southsiders Organized for Unity and Liberation, Northside POWER, and the Northwest Indiana Federation. Occupy Chicago has endorsed the event.

“We are organizing in the tradition of the civil rights movement,” said Rev. Dwight Gardner of Gary, president of the Northwest Indiana Federation.

“In Dr. King’s very last sermon, he warned us not to sleep through a time of great change like Rip Van Winkle,” he said. “This is a moment of great change and we must put our souls in motion to occupy his dream.”

At the Fed: National Day of Action

Monday’s action at the Federal Reserve (Jackson and LaSalle, January 16, 3 p.m.) is part of a national day of action to “Occupy the Fed” by the Occupy the Dream campaign, with African American church leaders moblizing multicultural, interfaith rallies in 13 cities.  They’ll be emphasizing racially discriminatory practices by banks which have resulted in high foreclosure rates, as well as the issue of student debt.

“There needs to be economic equality, there needs to be jobs for all, there needs to be opportunities for the next generation,” said Rev. Jamal Bryant of Occupy the Dream.

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Occupying foreclosures

Abandoned homes being occupied in Belmont Cragin and Auburn Gresham on Tuesday – part of a national day of action called by Occupy Our Homes – underscore the failure of banks to deal with the foreclosure crisis.

In Belmont Cragin, Communities United Against Foreclosure and Eviction are moving two homeless sisters and their children into a single family home that was abandoned sometime after foreclosure was filed in 2009.  The group couldn’t determine whether a final disposition has been made on the property.

They think it could be one of the thousands of “red flag” properties, where banks and loan servicers “may choose to reduce the costs associated with a long-term vacant home by walking away from the foreclosure process instead of completing it” in order to evade the costs and legal reponsibilities of ownership, according to a Woodstock Institute report (see earlier post).

In Auburn-Gresham, kicking off its “Homes for the Holidays” drive, the Chicago Anti-Eviction Campaign is moving a family which lost its home to foreclosure into a home that was abandoned by a longtime resident after JP Morgan Chase refused to consider a loan modification.  The owner gave the keys to AEC, which like CAUFE has done signficant repairs on the building.

Foreclosures have continued to climb over the past two years, since the Obama administration promised to help millions of troubled homeowners.  But because their program allowed for voluntary participation by banks – instead of requiring institutions that had been bailed out to give affordable modifications to qualifying homeowners – it has helped only a small portion of those initially targeted.

Meanwhile lenders widely noted for being unresponsive to homeowners have now acknowledged extensive fraud in foreclosure filings.

In Austin, South Austin Coalition is taking over and boarding up an abandoned building that’s hosted extensive criminal activity less than a block from May Elementary School.  The building was foreclosed on by Citibank, said Elce Redmond of SAC.

“We’re going to go after the bank to pay for the boardup,” Redmond said.  “Longterm we want to pressure the banks to turn these homes over to community organizations and churches so we can rehab them and put families in them.”

“We have so many unemployed people and so many vacant properties,” said Willie JR Fleming of AEC.  “It’s obvious we need to put people to work rehabbing them so we can put families back in them.”

Fleming emphasizes that “we are enforcing the human right to housing.  We are not asking for human rights.  We are enforcing them.”

Occupy Our Homes reports similar actions “to stop and reverse foreclosures” in 25 cities on Tuesday, as “the Occupy movement joins with homeowners and people fighting for a place to live.”

Residents fight Cabrini Rowhouse evictions

Cabrini residents vowed to fight a CHA order evicting 33 rowhouse tenants, citing a previous federal ruling barring relocation at Cabrini without first negotiating with the local advisory council.

“There are going to be legal challenges, there are going to be protests, there are going to be a lot of things,” said Carole Steele, president of the Cabrini-Green Local Advisory Council.

At the end of August, CHA gave 33 families remaining in non-rehabbed units of the Frances Cabrini Rowhouses 180 days to relocate.  About 150 of 586 units in the 1942 red-brick low-rise development were rehabbed in 2008 and 2009, and these will remain occupied.

Steele said the LAC was informed of the action in a meeting a couple of hours before the notices went out.

In 2008 a federal court barred CHA from evicting 385 families at Cabrini, citing an existing agreement that requires negotiations with the residents’ council over the relocation process, said Richard Wheelock of the Legal Assistance Foundation, who represents the Cabrini-Green LAC.

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Chicago In These Times

As a national publication based in Chicago, In These Times often provides better coverage of the local scene than its rivals – but this week’s issue seems particularly noteworthy on that account.

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