THE NEW “NATIONAL SETTLEMENT WITH THE BANKS” WILL NOT STOP ONE FORECLOSURE
MORATORIUM NOW! COALITION SPECIAL MEETING
MONDAY, FEBRUARY 20, 2012, 7:00 PM
5920 Second Avenue, Detroit, MI (at Antoinette St.)
Featured Speakers: Vanessa Fluker and Jerry Goldberg, leading anti-foreclosure attorneys and Moratorium Now! Activists.
Hear an analysis of the new Federal/Attorney Generals “foreclosure settlement” with the banks.
Learn about the March 31 National Conference in Detroit to organize for a Two Year Moratorium on all Foreclosures and Foreclosure-related Evictions (nationalmoratorium.org)
The new settlement between the Federal government, 49 state Attorneys General and five of the biggest, most crooked banks is a complete fraud and another bailout for the banks.
Not one foreclosure will be stopped in the coming years by this settlement.
- Only $1.5 billion of the $25 billion settlement will go to people who lost their homes from 2008 to 2011 – paying a pitiful $2,000 (over three years) to people who were victims of banks who criminally stole their homes.
- A pitiful $17 billion will go toward principal reduction for “underwater loans” where people owe much more than their property is currently worth. But it is estimated that 11 million borrowers are $700 billion underwater right now.
- $5 billion will go to the states to compensate for losses suffered due to loss in property values. But there has been a loss of $1.9 trillion in home equity from the foreclosure crisis – resulting in city, county and state layoffs and service cuts.
Moratorium NOW! Coalition to Stop Foreclosures, Evictions & Utility Shutoffs
Call – 313-680-5508 for more information