Week of action planned to stop foreclosures

March 9, 2012 in Event

The Foreclosures Working Group will be launching a week of action against the current foreclosure system next week, Monday March, 12. Members of several organizations, including Occupy Denver, will lobby the Colorado General Assembly on Monday in calling for the passage of HB 1156 and will continue to demonstrate throughout the week through foreclosing on foreclosure attorney Lawrence Castle, a march on the Obama campaign office and attending the House hearing on HB 1156.

“The system currently skewed in favor of attorneys who represent banks doesn’t create a process for the banks to help homeowners stay in their homes – These bills will help to change that,” said Corrine Fowler, economic justice director for the Colorado Progressive Coalition.

This week of action has been planned to provide the needed support to ensure HB 1156 passes out of committee next week.

The coalition will bring the heat starting Monday with a legislative lobby day at the State Capitol where members will educate legislators on why they should support HB 1156. Then, on Tuesday, at 1:30 pm the community will once again ban together as they attend the Economic Business & Development House Committee where HB 1156 will be debated.

Wednesday, the action will continue, whether HB 1156 survives committee or not, when CPC and MOP organize to foreclose on Castle, a lawyer who crafted the law allowing lawyers to foreclose on homes with little more than a signature. Castle also happens to represent more than half of all foreclosures statewide and 49 percent of those in Denver. CPC members and others will meet at 999 18th St. #2201 in Denver at 12 p.m. to deliver the foreclosure notice.

Finally, on Thursday at 3:30 p.m., we will march from the west side of the Capitol to President Barack Obama’s campaign office. Participants will call for the removal of Edward DeMarco, the current head of the Federal Housing Finance Agency. DeMarco is philosophically opposed to resetting people’s mortgages at market value, a demand the organizations feel is necessary to bring about a nationwide recovery.

HB 1156 is supported by newspaper agencies and Progressive and Libertarian groups as a step towards protecting property rights. The Colorado Springs Gazette’s editorial staff recently came out in support of the legislation as has the Independence Institute’s Rob Natelson.

“An assignee looking to foreclose should actually have to produce the documents — promissory note, mortgage, assignment, etc. — proving he has the right to do so,” said Natelson. “That’s simple fairness. It’s also an important protection against mistakes and abuse.”