News & Media

Iowa CCI: Crack down on foreclosure fraud

Housing Opportunities, Economic Security

December 13, 2010 | Iowa Politics.com

Crack Down On Foreclosure Fraud, Iowa CCI, National Bank Accountability Campaign, To Tell Iowa Attorney General Tuesday 

We want you to get tough with the big banks, Iowa CCI members, nationwide foreclosure victims, and other labor and community groups will tell Iowa Attorney General Tom Miller Tuesday 

Des Moines, Iowa -- 

Iowa Citizens for Community Improvement (Iowa CCI) members, homeowners from 15 states, and allied groups with the national Bank Accountability Campaign will meet with Iowa Attorney General Tom Miller tomorrow morning at the First Christian Church in Des Moines, Iowa to demand principal reductions for millions of families who are at-risk of losing their homes, a new approach to preventing unnecessary foreclosures that includes mandatory and meaningful loan modification programs, compensation for homeowners who have been unlawfully defrauded of their property, and criminal penalties for big bank executives who broke the law, Iowa CCI members said in a media advisory released Monday. 

Miller is leading a 50-state "broad-based investigation" into the national home foreclosure scandal. 

The Bank Accountability Campaign will hold a press conference at 12:45pm Tuesday, December 14 at the First Christian Church immediately following the closed-door meeting with Iowa Attorney General Tom Miller. The press conference will be immediately followed by a series of direct action street protests targeting some of the big banks responsible for crashing the economy and fraudulently foreclosing on millions of hard-working American families. 

"We are demanding principal reduction for millions of families who are at-risk of losing their homes, a new approach to preventing unnecessary foreclosures, and criminal penalties for bankers who broke the law," reads a national petition being circulated by the Bank Accountability Campaign that will be presented to Miller tomorrow. 

Iowa CCI members will provide live twitter updates of the meeting with Miller using the hashtag #agmtg. 

WHO: Foreclosed and struggling homeowners and community leaders from Iowa and 15 other states, including Iowa CCI members, clergy, and labor advocates. Member organizations of the Bank Accountability Campaign include the National People's Action network (of which Iowa CCI is a part of), People Improving Communities through Organizing (PICO National Network), Service Employees International Union (SEIU), Northwest Federation of Community Organizations, IAF Southeast, and the Alliance of Californians for Community Empowerment. 

WHAT: Press conference following the closed-door meeting with Iowa Attorney General Tom Miller on banks' foreclosure fraud, as well as a bank protest in Des Moines. 

WHERE: First Christian Church, 2500 University Avenue, Des Moines, Iowa. 

WHEN: Press conference at 12:45pm, Tuesday, December 14. Immediately following the conference we will take our message directly to Wells Fargo. 

WHY: Nationwide foreclosure victims and community leaders will take their message directly to the big banks who caused the crisis and call on them to fix their mess. These banks are preparing to hand out oversized bonuses to their executives this holiday season even as they continue to foreclose and force families from their homes. The representatives will call on the banks to agree to a meaningful settlement with Iowa Attorney General Tom Miller. A meaningful settlement will require banks to dramatically increase the number of loan modifications they are doing and include principal reduction as a first line tool before any foreclosure proceeding is initiated and include remedies for homeowners who have already been unlawfully defrauded of their homes. 

Iowa Citizens for Community Improvement is a group of everyday people who talk, act and get things done on issues that matter most. With thousands of members from all walks of life -- urban and rural, black and white, immigrants and lifelong Iowans -- CCI has been tackling tough issues and getting things done for more than 35 years. 

For more information about Iowa Citizens for Community Improvement, visit http://www.iowacci.org