Remember when New Bottom Line converted bus stops into foreclosed homes and delivered trash from foreclosed property to local bank branches? This week is New Bottom Line's "Pay US Back" week of action. Groups of people in cities around the country are demanding banks be held accountable for their role in the housing crisis and pay their fair share.This week was a major win for New Bottom Line and Washington CAN! 71-year old cancer survivor, Dixie Mitchell, a victim of predatory lending, was able to keep her home. The housing market collapsed around the same time Dixie's husband had a stroke, and she was unable to pay back her loans. Though Dixie repeatedly attempted to modify the loan, her lender service, Ocwen, never processed the paperwork:
"Community leaders from the Florida-based group Foreclosure Hamlet delivered Dixie's modification paperwork and the petitions to Ocwen and asked Ocwen to call Dixie to confirm receipt of the paperwork. Meanwhile, Dixie's supporters rallied at her home in Seattle with a cell phone in hopeful anticipation of a phone call from Ocwen."
After a flurry of negative press, Ocwen called to notify the Mithchell's they could keep their home.Meanwhile, in Kansas City, Missouri, over 1000 people gathered downtown to rally for fair lending practices. Communities Creating Opportunities organized the event:
"Communities Creating Opportunities organized a 1,000 person rally yesterday in downtown Kansas City to protest exorbinant interest rates on predatory 'payday' loans that suck billions of dollars of income out of low-income communities nationwide. Missiouri has some of the most relaxed short-term loan regulations in the country and CCO is in the midst of a campaign to cap those rates in Missouri to 36%."
We're excited to see what else the Pay US Back week holds.Click here to find a Pay US Back action near you.