Monday, October 17, 2011

Woman taps 'Occupy' protest to avoid foreclosure - US news - Life -

Woman taps 'Occupy' protest to avoid foreclosure - US news - Life -
“(The bank) kept saying we can’t do anything. Your case is closed,” said Gudiel. “Our stand was, ‘No, we’re not leaving. This is our home. We worked hard for it and we’re just not going to leave.’”

But instead of the anticipated confrontation, there was a dramatic reversal of fortune. Fanny Mae canceled the eviction notice and offered the Gudiels a loan modification that could enable them keep their home.

Why? Fannie Mae and loan servicer OneWest won’t discuss the case. But nonprofit advocates say a series of bold protests — with reinforcements from the “Occupy Wall Street” movement — and a spate of media interest put Rose in the limelight and forced the banks to back down.

Interesting development, isn't it? There is so much blatant illegality going on with bank foreclosures and the phony "mortage rescue" solicitations that concerted political action is probably the most effective course of action. Few people can afford lawyers to force these institutions to obey the law.

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