Thursday, March 1, 2012

Conference in Detroit on March 31, 2012 : Moratorium to Stop Foreclosures

CONFERENCE:  Moratorium to Stop Foreclosures

Global Research Canada,  February 17, 2012



Saturday – March 31, 2012
Central United Methodist Church – 2nd Floor
23 E. Adams St. (at Woodward Ave.)
Detroit, Michigan
Registration: 8 - 9 am        Conference: 9 am – 6 pm

Online registration at:

In recent months, there has been a tremendous upturn in the movement against foreclosures and evictions.  From New York to California the Occupy movement, unions and many community organizations have organized direct actions at people’s homes and at the banks to prevent families from being thrown out of their homes by the banksters – and the federal government which bails them out.

However, as important as these actions are, they will be not enough to stop the two million foreclosures that already are being processed and the additional 3.8 million foreclosures projected to take place over the next 2 years. Along with continuing the direct actions it’s time to raise the demand that the government place a Two Year National Moratorium to halt foreclosures and foreclosure-related evictions. A Moratorium would keep people in their homes and stabilize our communities while a long term solution to the crisis, including reducing principal to the actual value of the homes, is developed and implemented.

In the 1930’s, 25 states enacted moratoriums on foreclosures. The Michigan Moratorium Act meant that anyone facing foreclosure got an automatic 5 year stay on the foreclosure, with a judge ordering a reasonable payment based on the homeowner’s ability to pay. These laws were upheld by the U.S. Supreme Court in the case of Home Building & Loan Building Association v Blaisdell, which held that the people’s right to survive during an economic emergency superseded the contract clause of the U.S. constitution. The moratoriums were not a result of the generosity of the legislatures or the courts, but were a direct result of the actions of workers and communities flooding the streets and preventing the foreclosures that were being carried out. The legislatures and courts essentially ratified the moratoriums that were won in the streets.

The demand for a Moratorium on Foreclosures has never been more timely. Today, with the federal government owning or backing 75% of mortgage loans through Fannie Mae, Freddie Mac and HUD, and paying the banks full value for the inflated, fraudulent and predatory loans, the President has the absolute authority to implement a two year moratorium on foreclosures and foreclosure-related evictions through executive order. And the President could immediately authorize a reduction of the principal to actual market values on all mortgages owned by the federal government.

The Moratorium Now! Coalition, which has been raising the demand for a moratorium on foreclosures and challenging foreclosures and evictions in Michigan for the past five years, invites all activists to come to Detroit—the city hit hardest by the economic war on the 99%—for a one day conference on March 31, 2012. The conference will be an opportunity to share our experiences fighting foreclosures and evictions through direct actions. We will share legal strategies in challenging the banks in federal and state courts. And we will plan a campaign to raise and win the demand for a National Two Year Moratorium on Foreclosures and Foreclosure-Related evictions.

For more information, please click on the link provided below:

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