[Street] [Outreach] Bring your swimwear - underwater mortgage rally tomorrow at BOA!

Katie Gradowski katie at occupyboston.org
Mon Jan 16 15:54:29 EST 2012


Hey all!


This is short notice, but it looks like fun!


Tomorrow at 9:30, City Life will be holding a rally at BOA to protest
underwater mortgages.   Details below, and
here<http://www.facebook.com/events/280677958660232/>!
   We've done a number of actions with CLVU recently, all a lot of fun, and
hugely successful.  Also on Tuesday, a group of us will be going to Everett
at 1:30  (leaving around 12:30) to participate in an auction protest to
support a member whose home is up for sale.   All are welcome - if you'd
like to join that action, email katie at occupyboston.org.


In the meantime, if you're in the downtown area, bring a sign, don a pair
of goggles, and join in the rally!


********************************************

"Workout Counselors can fix this corruption!

Give them the tools for Principal Reduction!”

Protest at Bank of America

Tuesday, Jan. 17

100 Federal St. downtown

Gather at 9:30 am at B of A

Press conference 10-10:30 am

(leave City Life offices at 8:45 am)



*If you have a snorkel or flippers, bring them along!  While you march, you
can carry a sign that says “Millions of underwater homeowners demand
principal reduction!”*



Dear friends,

            Bank of America is inviting workout counselors from the region
to a special training on how to do loan modification on Bank of America
loans.  Many of these workout counselors are our friends and do excellent
work.  But they don’t have the tools they need to fix the crisis.

            We know what tools they need and we’ve been demanding it for 5
years:

*PRINCIPAL REDUCTION*.  Reduce the amount owed.  Don’t put principal on the
end of the loan as a balloon payment.  Don’t extend the term.  Reduce the
amount OWED.  The Banks deliberately ran up real estate values as part of
the housing bubble.  The bubble burst as they knew it would.  The Banks
should fix the crisis by reducing principal to real value.

* *

*We demand that Bank of America (and all Wall St. Banks)*

   1. Reduce principal to real value as part of loan modification
   2. If “1” doesn’t happen, sell the property to occupants or a non-profit
   at real value
   3. Stop all no-fault evictions.  Accept the rent!

*Attached is our question and answer sheet on “why principal reduction”*

*City Life organizing staff will be in Monday afternoon on the holiday for
questions.*

-- 
Due to the present financial situation, the light at the end of the tunnel
will be switched off to save on electrical costs until further notice.
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