NY1 News, February 19, 2009
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The Association of Community Organizations for Reform Now (ACORN), the nation’s largest community organization of low and moderate-income families, has trained volunteers how to peacefully sit-in and prevent a homeowner from being evicted because of foreclosure.
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“We’re standing together, helping to keep families in their homes until there is a comprehensive solution to the foreclosure crisis,” said Julia Boyd of ACORN.
The campaign was launched this morning outside the Laurelton, Queens home of Myrna Millington. The 73-year-old’s home was foreclosed in September and has already been scheduled for auction once. If there is a winning bid, Millington will be served an eviction notice.
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President Barack Obama announced a mortgage recovery program on Wednesday that will go into effect on March 4 and aims to save nine million homes from foreclosure. The plan allows families to negotiate loan modifications and restructure mortgages.
ACORN organizers are calling for a one-year moratorium for all foreclosures across the state that have already been filed.
“For too long now, families have been losing their homes because of terrible loans that Wall Street gave out, and banks gave out, and now they’re taking these people’s homes,” said ACORN community organizer Jon Westin.
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A spokesman with the mayor’s office says that citywide more than 4,000 foreclosed homes eventually went to auction in 2008, a significant increase from the year before.
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The ACORN campaign will continue until the president’s homeowners’ recovery package is officially in place.
[Editor’s Note: A video related to this story can be viewed here.
A spontaneous protest by ACORN.
Original article
(Posted on February 20, 2009)
Comments
“Comprehensive solution to the foreclosure crisis.” Translation: welfare. Whenever a lib wants something “comprehensive,” they want a government handout of some sort.
They might bother to realize that part of the “foreclosure crisis” is their own doing, via rotten ACORN pressure to give out mortgages to patently unqualified lenders. What else is going to happen when you give $720G mortgages to people claiming (but not even proving) they make $14G a year — housing values shoot sky high, and then when they can’t make the note (duh), then the house gets foreclosed, and nobody will buy that house for 720G. Housing values are plummeting because they were never supposed to be that high.
Boys and girls…..the last I heard, ACORN was supposed to get $5.2 BILLION in the stimulus bill. This represents an average of over $100 MILLION PER STATE for all fifty states. There is nothing more dangerous to the future of this Republic than for ACORN to have so much money to spend on radical protests and lawsuits.
Not all the people liable to loose their homes are non-Whites. I and my wife could soon be one of them. We had investments that we were living on with very little actual earned income and our income has dropped significantly due to all the fraud, mismanagement, etc., that we have all become so familiar with lately. We don’t have a fancy home, just a modest place in an older, quiet suburb, but we might be unable to manage our mortgage pretty soon. It is not a subprime, variable rate mortgage either, it is an FHA approved one. We’re trying everything to hang on, but frankly, we are somewhat frightened of what might happen.
Are all the posters on Amren fat cats with their mattresses stuffed full of gold and silver certificates worth ten times their face value? Or are you working people who haven’t yet lost your jobs? Is it that you are living with your parents? Out of all the people I know - all White only a couple are still doing okay and feeling secure enough to make light of things.
I don’t want the whole world to fall apart, even though I think it is going to. Some might think that this would create a great chance to assert the White Seperatist movement, but I don’t think that anything but a lot of terrible suffering and death would occur. I am not looking forward to chaos as opportunity the way Hitler did. We must have more intelligent ways for race survival than to repeat the past because this time the fallout will be worse than before.
Great, people learn they can’t afford mortages they bought, which they knew they couldn’t afford (when they bought them). And now the taxpayers are paying for it, through Obama’s bailout and future inflation! Thanks for ruining it, for those who were playing by the rules, Obama!
For those who said I opposed Obama “just because he is Black,” I say, I wish that were my biggest concern!
In reality, I don’t care about his race; I am disgusted by his policies (already), not his skin color.
“Housing values are plummeting because they were never supposed to be that high.”
You are correct, my friend. When taking out an adjustable rate mortgage, you have to figure out whether you would be able to afford the payment at the higher interest rates. This was not done. I know what the lenders were telling people, “Don’t worry, you can refinance once the rates go up.” The problem is that these folks were taking a ‘flyer’ on assuming that the housing prices would continue to go up. As Mr. Diversity points out, they couldn’t. They were artificially inflated.
- Realist in Atlanta
They’ve went one dangerous step further yesterday. They cut the lock on the door of an already foreclosed home and allowed the black tenant back in. Acorn said that would be their procedure to fight foreclosures from now on.
The company holding the mortgage said it was unaware their properties were being invaded and are going to contact law enforcement.
Whiteplight:
You’re right in this case. If it were up to me, and the subprime crisis hit, I would have done two things: (1) Subsidize the interest for those about to be foreclosed upon, even if it’s for the rest of their lives. It would have been far less expensive than the bailouts, rescues and stimuli that’s coming at us hundreds of billions of dollars at a time, one after another. It keeps the people in their homes, but they don’t build any equity. Also, it would have kept them out of the rental markets, and rents recently shot higher mainly because of foreclosed-upon subprime borrowers all entering into the rental market all at the same time, you can bet some of those got Section 8. My interest subsidy idea would have been cheaper than the new costs of the Section 8. (2) Repudiate CRA now. Mandated standards for down payments, income verification, etc. I’m getting tired of people whining about how housing prices are plummeting. They should be plummeting, because they never should have been that high to begin with. You’re not going to have a society with a good standard of living for the average working class person with a 1500 sf house costing $600,000. (3) When (2) is implemented, enact mortgage interest payment insurance governmentally, so that we never have one of these subprime/foreclosure crises tripping up the economy ever again. And, of course, (4) Bye bye free trade and open borders, hello unions. That’s the only way that the living standard for the average person is going to get any better.
I’m also with you about the infantile mentality of “let things go all to hell” and then some mythical right-winger will rise out of the ashes and save us all. Most of the white right-wingers who have that mentality just so happen to fashion themselves as the savior, so it’s mostly a psychological complex, the Manson disorder. The American experience has proven that government gets more authoritative and left-wing with crises, everything from The Great Depression to 9/11 to the subprime crash.
I agree with Whiteplight
We must, must get away from this rich, anything goes Capitalism, free markets are the only thing that matters mindset and reconnect with regular, poor and working class White Americans.
The speculative economy that forces housing prices to obscene levels that ultimately crash isn’t good for our people any more than it is good for non Whites.
We need to start thinking and working in terms of community, helping our people join groups.
We need White versions of ACORN. And it is perfectly OK to say uinkind words about $100 millionaire, $ billionaires who are responsible for the Ponzi scheme economy that makes it virtually impossible for regular folks, including regular White folks to live in a decent home in a safe neighborhood.
I used to think that I wouldn’t be happy until the last King was stangled with the guts of the last priest but I’m going to change my view of things.
Now I think I won’t be happy until the last banker is strangled with the guts of the last politician. These people knew exactly what they were doing and they knew what the cost would be and who would end up footing the bill for it.
Sure blacks took advantage of free money laying in the street but who threw it out there and where did they get it?
don’t most of the foreclosed homes have the utilities shut off? will acorn also bring tanks of propane and or portable generators or maybe just have a gathering of protesters at the local utilities company.
ACORN is the same organization that demanded that banks give mortgages to the very people who are now unable to make their payments. It’s no surprise that Saint Obama worked with them.
I disagree with Whiteplight. People who lose their homes generally do not wind up in the street. They wind up renting some cheap apartment, or moving back with their relatives. I am aware that this crisis is now hurting many homeowners and businesses who tried to do things right and had nothing to do with causing the problem. It does not follow that adding several trillion dollars more to the national debt in the space of two years is a cure better than the disease. If you think that the crash in the stock market has hurt your prospects for retirement (it has certainly hurt mine) then think what 20% a year inflation will do to it.
Not all the people liable to loose their homes are non-Whites. I and my wife could soon be one of them
You’re not the only white people in near dire straits my friend! and we whites cannot cry racissssssss when the sheriffs come to throw us out of our homes.
I read a sign in front of a bank a few years ago that describes exactly how America came to this place in time. The sign said:
This is Bolshevik revolution in slow motion.
Except that the distributin of wealth here is accomplished by “borrowing” money that the underqualified borrowers will not pay back, while keeping the property they stole, err, bought for the money they “borrowed”.
“For too long now, families have been losing their homes because of terrible loans that Wall Street gave out, and banks gave out, and now they’re taking these people’s homes,” said ACORN community organizer Jon Westin.
Let’s see…allowing people on welfare and minimum wage jobs to “purchase” homes…allowing them to keep “their” homes when they don’t make the payments…EXPANDED welfare benefits and food stamps…EXPANDED medicaid and universal health care…REMOVING the work requirement for welfare…EXPANDING unemployment benefits…and allowing people to collect even if they choose to QUIT their jobs…REMOVING the requirement to get a job…covering PART-TIME workers…funding of ACORN…if this “stimulus” bill ISN’T…REPARATIONS…Obama can kiss my lily white ass!
Is ANYONE still unconvinced those high-risk loans to Blacks and Hispanics didn’t cause a major impact on our lending crisis?
“Housing values are plumetting because they were never supposed to be this high.”
Exactly right. What we saw was a classic speculative bubble, roughly the same sort of thing that drove up stock prices in the 1990s, except that the speculators had a rational expectation that feeding money into high-tech startup companies would result in their generating new technologies and new products that would produce genuine profits. There was no such reasonable expectation on the part of the speculators in the case of the housing bubble.
Not all of the people who will lose their homes are non-whites, to be sure. Plenty of white people bought “too much house”. For example, if you and your spouse bought a home that you could not afford on only one salary, then you overbought, because you are at risk of losing it if one of you gets laid off in a soft economy. When I bought my house in July 1996, I was making $3300 a month and taking home about $2500 a month after taxes. I bought a nice two-bedroom townhouse - 2000 square feet, which includes the unfinished basement but not the two-car garage - in a good neighborhood in Colorado Springs with a 20% down-payment conventional fixed-rate 20-year mortgage and a monthly payment of $692. I paid off the mortgage in 2004 before I got married, because I wanted my home to obviously be a pre-existing asset if the marriage didn’t work out (I have absolutely no sense of humour at all about money. Absolutely none.) Now it only costs $145 a month in HOA dues, which maintain the landscaping, the streets, and the swimming pool. This was the right way to do it. Nobody hires Americans as scientists and engineers anymore, felony or no, but it is quite easy for me to make enough to support us on the mechanical, welding and now construction work I do freelance.
An additional absurdity in the housing speculative bubble is that it was bound to self-correct quite quickly. Higher real-estate prices would naturally cause the construction industry to go into overdrive, so they could cash in on the greater profits to be made, and it doesn’t take very long to put up entire new residential subdivisions. Anyone who didn’t see that coming was self-delusional.
A spontaneous protest by ACORN.