[lbo-talk] [DEBATE] : Re: (Fwd) Fed pump-priming; Doug sees a fix, Whitney doesn't

Patrick Bond pbond at mail.ngo.za
Mon Dec 22 09:57:03 PST 2008


Doug Henwood wrote:
> ... Why did these actions/movements have so little effect, in what
> should have been more promising political/economic environments than
> the U.S.? Mexico's governments have, if anything, moved to the right
> over the last decade, and we all know the sad story of South Africa.

They weren't generalised, and they didn't move out of single-issue politics. In other words they were economistic and didn't have a socialist leadership able to link to other struggles underway at the time.


> Should I have cited these in the LA Times exchange? They would have
> had no resonance in the U.S.

You're not really paying attention, are you dear comrade:

Move Over, Broker Oakland ACORN Members "Move in" to Broker's Office for Loan Modifications

OAKLAND, Calif. - On Monday, Dec. 15, Oakland ACORN members showed one member's mortgage broker they mean business. On the day Victorio Senteno's mortgage broker had asked for his keys, instead he and 25 other ACORN members "moved in" to the broker's office. They brought furniture including chairs, tables, a crib, family photos, and even a Christmas tree.

Like many Americans all over the country, Senteno's mortgage payments have been going up. At the same time, he is facing loss of work due to the economic downturn. He and his family of six have struggled to make their monthly payments.

ACORN members demanded that Senteno's family be allowed to remain in their home, with no eviction, and that the broker contact Senteno's mortgage lender, Fannie Mae, and ask for a loan modification.

According to new legislation passed in California at the initiative of ACORN members, Senteno's broker should have given him notice of upcoming foreclosure proceedings, but he did not receive this notice. Further, the "cash for keys" agreement from the broker was only in English, so Senteno could not understand it.

After speaking with ACORN members, Senteno's broker spoke with him and then called Fannie Mae. The broker has said they will disregard the cash for keys agreement and the family can stay in the house.

Because Senteno's loan is with Fannie Mae, one of the mortgage lenders who have agreed on a foreclosure moratorium, Senteno's family will be able to remain in their home at least through the holidays. ACORN Housing is working on the family's behalf to attempt to work out an affordable loan modification with Fannie Mae. ACORN Brings Foreclosure Help to Contra Costa Schools

***

RICHMOND, Calif. - On Monday evening, Dec. 15, Contra Costa ACORN brought their foreclosure prevention work to Cesar Chavez elementary school. Parents facing foreclosure had reached out to their children's schools for help, not knowing where to turn, and the school asked ACORN to present a foreclosure prevention event for parents.

ACORN members spoke to parents about their foreclosure-fighting work in the area and in the state, including helping pass Senate Bill 1137 which contained several key provisions to help California families; passing foreclosure moratorium resolutions in the city and the county; establishing a community land trust from foreclosed and abandoned homes in Richmond; carring a mandatory mediation resolution to the City Council; and organizing around the millions of dollars coming into the community through HUD's Neighborhood Stabilization Program.

Mayor Gayle McLaughlin attended and shared her support for ACORN's anti-foreclosure work. Eleven parents signed up at the event for ACORN's foreclosure intake program, which connects troubled borrowers with HUD-certified housing counselors at ACORN Housing. Contra Costa ACORN plans to reach out to other area schools to conduct similar events.



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