Fed to hold foreclosure meeting in Brockton
Hundreds of pained Brockton residents will press federal officials tonight to help beleaguered homeowners in the City of Champions, which has been pummeled by the mortgage foreclosure crisis.
The meeting is the last of nine, and only one in New England, being held by U.S. Federal Reserve Chairman Ben Bernanke to take on fears about foreclosures, evictions and unscrupulous lending.
"It's an opportunity for the community to come together and address the officials who actually have the power to make changes so we prevent this from happening again," said Janine Carreiro, organizer of the Brockton Interfaith Community, which is hosting the meeting with the Massachusetts Communities Action Network.
Officials will tour some of the hardest-hit areas of Brockton before the meeting, which is open to the public. Four hundred people are expected. Speakers will ask questions of a panel, including U.S. Rep. Barney Frank (D-Newton) and Bernanke's senior staff.
Residents will press for legislative and banking changes that could save homes and protect consumers from shady lending.
Brockton has one of the highest foreclosure rates in the state.
There have been 1,500 foreclosures in Brockton since 2004, Carreiro said, and more are pending.
Vacant homes have become a blight in some neighborhoods and sunk property values.
Brockton Mayor James E. Harrington and city councilors are also expected. The event is at 6 at St. Patrick's Church, 335 Main St.