Moratorium NOW Coalition to Stop Foreclosure and Eviction

Why is Countrywide and their law firm Trott & Trott evicting a 72-year-old disabled woman from her home of 45 years, rather than accepting full payment for the house?

Demonstrate to Stop the
Eviction of Rubie Curl-Pinkins!
Tuesday, July 22, 12 Noon at Bank of America
Guardian Building, Congress & Griswold, Detroit
(Bank of America has bought out Countrywide!)

In one of the latest horror stories in the foreclosure epidemic that is devastating the city of Detroit, Countrywide and their law firm Trott & Trott have decided to evict Rubie Curl-Pinkins from her home of 45 years, rather than accept full payment for the home through a reverse mortgage.

Rubie Curl-Pinkins is a 72-year-old woman suffering from numerous physical disabilities. Her doctor has stated that being evicted from her home could have a devastating effect on her health. Her daughter, who also lives in the home on Holden Street, is also disabled, suffering from congestive heart failure and on oxygen to help her breathe.

Like many people in Detroit, when confronted with numerous debts, Ms. Curl-Pinkins was lured into a predatory loan in exchange for a mortgage on her paid-off home. The interest rate exceeds 10%. When her medical bills mounted, she fell behind on her mortgage payments and her home went into foreclosure.

Before the redemption period ended, however, she succeeded in arranging a reverse mortgage that would pay off the debt. But Countrywide delayed in providing a pay-off letter so she could finish the loan, pay off the redemption amount, and keep her home. Once the redemption period ended, rather than work with Ms. Curl-Pinkins, Countrywide and its attorneys Trott & Trott have refused to accept payment for the home and insisted on evicting Ms. Curl-Pinkins. Under pressure, she signed a consent judgment and is scheduled to be evicted on July 25, 2008.

Countrywide and Trott & Trott?s actions epitomize the ruthlessness and illogic of the finance industry, which would rather assert its power to throw people in the streets than accept payment for the homes. The banks and finance companies are destroying our communities, throwing people into the streets, creating thousands of abandoned and vandalized homes, and reducing property values for everyone. (It should be noted that Countrywide has recently been bought by Bank of America. So much for their signs about ?serving Detroit?!)

Just this week, the federal government bailed out the banks and finance industry by guaranteeing $300 billion in taxpayer money to back up their bad loans. What about bailing out the people, the real victims of the foreclosure crisis?

We need a Moratorium on Foreclosures to stop this epidemic and keep people in their homes! Join the growing movement to support SB 1306, a bill introduced by State Senator Hansen Clarke which would halt foreclosures in Michigan for two years to allow the people to survive this crisis.

Stop the Eviction of Rubie Curl-Pinkins! Fight for the passage of SB 1306 to Stop Foreclosures in Michigan! Join the demonstration this Friday.

Moratorium NOW! Coalition to Stop Foreclosures and Evictions

23 E. Adams, 4th Floor, Detroit, MI 48226 www.moratorium-mi.org (313) 319-0870