[Street] [Reminder] Rally against underwater mortgages!
Katie Gradowski
katie at occupyboston.org
Mon Jan 30 00:45:01 EST 2012
*Monday, January 30, 12 noon*
March with City Life/Vida Urbana, Chelsea Collaborative, Occupy Boston and
Occupy Wall Street, and Mass Uniting.
Gather at 12 noon at JP Morgan Chase (50 Rowes Wharf). March to Fannie Mae
(265 Franklin) and Bank of America (100 Federal St)
*We demand:*
Principal reduction for underwater mortgages
*What was the TARP bank bailout? *= $700 billion
*What is the total underwater negative equity? *= $700 billion
*The proposed AG’s settlement gives how much to underwater mortgages?* =
$20 billion. That's why we are marching.
25% of mortgages nationally are underwater. This means that the amount
owed on the mortgage exceeds the value of the house. In this situation a
homeowner can make years of payments without ever owning anything. Wall
Street Banks profited off of (and promoted) a housing bubble that left
millions with underwater loans, then received trillions in taxpayer
bailouts. Still they want to keep homeowners on the hook for wildly
inflated prices and evict families who can actually afford their homes at
real value.
*BRING YOUR SWIMWEAR! * Participants are encouraged to bring flippers,
goggles, swimsuits, snorkels — or just wear something blue! Details at
http://www.facebook.com/events/317533048289164/
[image: PR cropped 933x1024 January 30: March against Underwater
Mortgages!]<http://www.occupyboston.org/wp-content/uploads/2012/01/PR_cropped.jpg>
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