During the Great Depression of the 1930s, Michigan and 26 other states enacted a moratorium on all home foreclosures, making it ILLEGAL for the banks to kick families out of their homes when they couldn't pay the mortgage. The courts adjusted loan payment terms to a fair rate for homeowners in hard economic times. In today's hard times, when banks are getting bailed out and the working class is ge
tting hit hard, it's time for a moratorium in Michigan NOW! Coalition to Stop Foreclosures, Evicitions, and Utility Shutoffs is a coalition of grassroots activists and organizations, union and religious leaders, farmers, politicians, and concerned citizens from across Michigan that formed to fight for Michigan legislation that would stop all mortgage foreclosures and evictions for two years. Some of our most committed activists have themselves been foreclosed and evicted from their homes and farms. Foreclosures and evictions are devastating working families around the country. One in nine homeowners nationwide is either behind in their mortgage payments or their family homes are in foreclosure. Over 80,000 homeowners have lost their homes in the Detroit area alone. The vacant home rate in Detroit is 25 percent, second only to New Orleans. Michigan has led the nation in foreclosures caused by the predatory sub-prime lending crisis on top of a severe economic downtown. One in every 137 homes in Michigan is in foreclosure. Michigan leads the country in unemployment and poverty. Since the federal government has now taken over and bailed out the big mortgage firms of Fannie Mae and Freddie Mac at taxpayer expense, it is the government's responsibility to bail out and protect those who need it most -- working people and their families, the elderly and the disabled who are facing foreclosure and eviction!
***Moratorium NOW meetings are held every Monday @ 7 PM, in conjunction with the Michigan Emergency Committee Against War and Injustice. Be a part of the movement!!***
If you are facing foreclosure and need help, contact the Moratorium NOW Coalition!