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Two-Story High Projections Make Sure Bank of America Gets the Message
Video via Myrna Morales.
Read MoreRoad Warriors Head to Charlotte May 9th - 1,000 to Protest at Bank of America Shareholders Meeting
A busload of people from City Life’s Bank Tenant Association and from other bank tenant organizing projects around New England is heading to Charlotte, North Carolina, for the Bank of America shareholders meeting. We will leave Monday evening late. The shareholders’ meeting is May 9.
Read MoreCLVU in the News
Foreclosure protest to light up big bank
Protesters plan to project giant images of letters written by consumers begging to keep their homes onto three local Bank of America branches tonight — aiming to fight foreclosure using “art activism.”
“We want to capture the attention of people who are walking or driving by and put a face on the stories of foreclosure,” said Brandon German of City Life Vida Urbana, one of the protest’s organizers.
Read MoreProtesters send digitized memo to bank
City Life/Vida Urbana, a Boston-based advocacy group, has been protesting foreclosures throughout the economic crisis, but Friday’s rally in downtown Boston came with a twist. Enlisting the help of volunteer John Hulsey, a Harvard University graduate film student, the organization took their message to the bank. They digitized the words of a handful of homeowners who have either have been foreclosed on or are facing the threat of losing their homes and projected those messages onto the Bank of America building.
Read MoreBank of America foreclosure victims demand Principal Reduction
Bank of America Foreclosure Victims give testimony demanding principal reduction.
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Underwater Mortgage Rally Pictures and Video - Jan 30, 2012
City Life/Vida Urbana, joined Chelsea Collaborative, Occupy Boston and Occupy Wall Street, and Mass Uniting for a march on Fannie Mae and Bank of America to demand principal reduction for underwater mortgages. Protestors dressed up as sea monsters and other creatures, carried fish, and wore snorkels as part of the underwater theme.
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.
We can’t get out of the mortgage crisis (or the economic crisis) without principal reduction to solve the problem of underwater mortgages.