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What's Wrong with the Attorney Generals' Foreclosure Settlement
As of today, Monday February 13th 2012, City Life/Vida Urbana does not recognize the multi-state Attorney Generals foreclosure bank settlement as a solution to the foreclosure crisis. Download our statement about the settlement. Read MoreRescue HUD from the Evil Side of the Force!
Once up on a time – not long ago but right now!… in a galaxy – not far away but right here on Earth!… there unfolded an epic struggle.
The People’s desire for democracy (the 99%!) has been thwarted by a corporate ruling class, led especially by its financial wing, the emperors of the Wall St. Banks. They are symbolized by the cruel Count Bankula, who tried to disrupt the City Life press conference two days ago.
Read MoreReportback from the Home for the Holidays Speak-out and Press Conference
About 50 people joined the Bank Tenant Association press conference at 40 Fowler St., which we occupied Oct. 1. We started the press conference by chasing away Count Bankula, who had arrived to claim our neighborhood. We chased him down Fowler St., trailed by reporters and news cameras.
Read MoreCLVU in the News
Protesters target big financial institutions
Demonstrators gathered in downtown Boston today to protest against big banks on behalf of homeowners who are under water in their mortgages, or owe more than their home is worth.
“Wall Street banks created and profited from a housing bubble that left millions with underwater loans,” said Melonie Griffiths, an organizer with City Life/Vida Urbana, in a statement. “Then they received trillions in taxpayer bailouts.”
Read MoreSCUBA DIVERS & SEA DRAGONS MARCH ON BIG BANKS TO EXPOSE “UNDERWATER” MORTGAGE CRISIS
Huge bubbles are floating from a sea of goggled, snorkeled, green-sea-dragoned Occupiers (some from Wall St., some from Boston); foreclosure victims led by City Life/Vida Urbana and New England’s Bank Tenant Associations; and allies from Mass Uniting and Veterans for Peace.
Read MoreDC Protests Target K Street Lobbyists
During the first week of December, City Life joined a caravan of more than 250 people headed to Washington, DC, where we joined with thousands of activists from across the country for Take Back the Capitol. Read MorePhoto Galleries
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.