Sunday, February 26, 2012

Foreclosure Moratorium Hearing in St. Paul on Mar. 7

MN politicians CAN Stop Foreclosures in MN by putting a moratorium on foreclosures. WE NEED to be at the MN state capitol on WEDNESDAY, March 7 at NOON. to pack the hearing, to speak the truth about foreclosures, and to demand that MN politicians end foreclosures Now!

Stop Foreclosures and Evictions - Moratorium NOW!  Pack the Hearing on Foreclosures - Make Our Voices Heard!

Wednesday, March 7
12:00 Noon
State Office Building (across from State Capitol)
Room 300 South

The MN Coalition for a People’s Bailout has a bill, sponsored by Senator Scott Dibble and Representative Karen Clark, The People’s Bailout Bill (SF1521 & HF1886) which calls for:

- A 2-year moratorium (a halt) on home foreclosures.
- A 2-moratorium on the eviction of renters from foreclosed property


Demand that our state legislators protect OUR interests, not those of the privileged few - remind them that their votes depend on it! We are the 99%; our voices together cannot be ignored!

Contact info for Legislators

Remember, if they don't hear from YOU, they will only hear from the bankers' lobbyists!

Click for List of Senators by District and County.
Click for List of Representatives by District and County.

Click for a full list of MN Representatives
Click for a full list of MN Senators.

A vote for the bill to put a Moratorium on Foreclosures and stop foreclosure-related evictions is a vote to keep Minnesotans in their homes.

What this bill does:

For Homeowners: The bill puts a two-year moratorium on foreclosures of owner-occupied properties. Homeowners are required to pay either their current payment or 41% of their income during the moratorium, whichever is less.
For Renters:The bill lets renters stay in their homes, paying a fair market rent (ie, their current rent) to the forecloser for 2 years after the bill takes effect.

Some common-sense reasons to pass this bill in 2012:

Save our homes

Many banks are stonewalling as people try to make adjustments to their mortgages. The programs we hear about that are supposed to help people help only a small fraction; these programs need major reform at the federal level. We need something to make these banks come to the table and truly negotiate in good faith. Until the feds (or the state) can make those changes, we need a moratorium so people and banks have time to get together to work out a deal that benefits everyone.  Homeowners  pay up to  41% of their income as both parties work to come together for a new arrangement.

Protect innocent renters

Renters need the option of keeping their existing tenancy in effect. Despite current laws, many renters don’t even know their landlords are getting foreclosed on; they have been paying rent, assuming it was going to the mortgage. There are also cases where “landlords” take the security deposit and disappear! Let renters stay in their homes, paying a fair market rent to the forecloser.

Save our neighborhoods

When houses (or apartments) go empty, everyone suffers. Housing values go down and there are health and safety issues. Empty houses turn into trashed houses. Lower property values mean less money for local governments. Stable neighborhoods are safer, healthier neighborhoods. Keep people housed, keep properties maintained, and even keep some money going to the lender.

For the state budget situation

Because of the current economic crisis, home stability is more important than ever. Homeless families cost cities, counties and the state money. This is not just about homeowners losing their homes -- there is a trend of the unemployed taking refuge in the homes of friends and family, for the short or long-term. The bottom line is empty houses mean more money needed for city services, health care, social services…there are countless costs (both financial and social) that arise from foreclosure.

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