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November 19 Action in Massachusets

November 19, 2010

Alliance to Develop Power Kicks off Campaign to Take Back our Homes Demanding: That Big Banks Fix Their Mess

Springfield –– Taking matters into their own hands, community leaders and members of the Alliance to Develop Power descended on the condemned home of Diane McCloud at 24 Alden Street to clean up the illegal dumping on her property and demand the big banks clean up their mess and start investing back into the community.

The home, owned by Diane McCloud since 1986, fell into disrepair after Ms. McCloud, a widower, received a series of predatory loans.  The home was condemned by the City of Springfield in 2006, but Ms. McCloud continues to pay her mortgage on a home she does not live in.  The property has since become a dumping ground and blight on the community.

“I purchased my home in 1986 for $61,000 and in 24 years I have never missed a payment. But now Litton Loan Services says I owe over $80,000.  How is that possible?” said Diane McCloud.  “I used to feel like I failed my family.  But now I realize that it’s the Big Banks that are failing me and other everyday people like me who are struggling to make ends meet.”

50 ADP members filled a large dumpster with debris dumped in the back yard, cut down trees, and cleaned the grounds of the property. In addition to the massive community clean up, community called on Larry Litton, CEO of Litton Loan Services, owned by Big Bank Giant Goldman Sachs, to modify Ms. McCloud’s mortgage and end their predatory practices.

“Big Banks crashed our economy and then they received $1.2 trillion in bail out funds.  But now its back to business as usual and they are gearing up to pay themselves $144 billion in bonuses while countless of Americans will lose their jobs, home and families.” said Keya Alvarez, ADP Co-Chair.  “We are here to say fix your mess or we will do it for you.”

“These banks are ruining our neighborhoods with their predatory loans and foreclosed homes that become dumping grounds.  If the banks won’t clean up their mess, we will.” said Joel Rodriguez, ADP leader and Crew Chief of United for Hire, ADP’s worker owned construction company that led the clean up effort.

Fix your Mess is the message that community leaders from the Alliance to Develop Power are sending to Goldman Sachs, Bank of America, Wells Fargo, Citibank and Chase as well as the countless loan servicing companies that market predatory high interest mortgages, resulting in the massive rate of foreclosures in Springfield, the highest in the state of Massachusetts.

Litton Loan Services, owned by Goldman Sachs, was fined $61 million by the Office of the Massachusetts Attorney General in May of 2009 for their illegal lending practices.

Today’s action is part of the national Showdown in America campaign national week of action from November 15th – 19th.. 25 Community groups across the country are demanding that the big banks fix the foreclosure crisis they created and halt foreclosures until homeowners have a real chance to save their homes and restore our communities.

“We are joining the national campaign to demand that the big banks clean up their act,” said Keya Alvarez, ADP co-chair and National Campaign spokesperson.   National demands on the Big Banks include:

  • Fix the Foreclosure Crisis
  • Invest responsibly and sustainably in our communities to create jobs.
  • Stop bankrupting taxpayers and communities
  • End discriminatory lending practices
  • Provide workplace protections to employees.

The Alliance to Develop Power / ADP is a membership based community organization in Massachusetts.  ADP has successfully reclaimed social and economic power through cooperative economic development, resulting in the creation of business and capital holdings collectively valued at $80 million and employing over 100 people.  ADP works for just policy reform at the local, state and national levels and is an affiliate of National Peoples Action.

National People’s Action, PICO National Network, Service Employees International Union, Northwest Federation of Community Organizations, Alliance of Californians for Community Empowerment, and the Industrial Areas Foundation South East are joining together to take these messages directly to the Big Banks on the national level.

One Comment leave one →
  1. December 15, 2010 4:35 PM

    HAMP–Our National Disgrace;

    We’ve been watching the SCAM for years now, written by the (great) US Secretary of Treasury Geithner, intended to assist the banks earnings reports–NOT desperate homeowners. Its about time the press got involved. After the corruption of the Banks, Congress, and Law Enforcement, the press may be the last institution in the line of defense against the demise of America.
    You may have noticed that B. of A. recently admitted that 90% of their mods were with B. of A. criteria (wonder what interest rate ?) and 10% (THATS TEN PERCENT) were mods based on HAMP criteria–an admission which could be a “tip-off” for any astute AG to pursue a case of Bait & Switch Fraud (should any one of them have the balls to be interested). The promotion expenses of said SCAM are, of course, paid by (guess ?) the taxpayers. But the AGs are busy with Xmas, and the paperwork crimes of the banks are going to be resolved with another “too complicated” explanation. As in the derivatives trades that caused our recession were just “too complicated” for Americans to understand (But my IQ is 124, just try me). Theft is not complicated !
    The purpose of this comment is to suggest that bankingonaneweconomy, as a ‘news organization’, spend some energy reporting on the living conditions of the 13 to 15 MILLION families now being ejected onto our streets by the current system of foreclosures. Where, for instance, are they supposed to go–riverbanks, autos, under bridges, abandoned commercial buildings, or just sit down on the Dam Sidewalk ! Already, in Las Vegas, they (industriously & intelligently) have moved into the storm drainage system under the city. Where do the children go to school–go to the bathroom–play ? Should we ‘normals’–those somehow maintaining their mortgage payments–prepare for the next disaster being a Black Plague–or maybe ask for “healthcare” advise from the government of Haiti ?
    I also suggest that the American Homeowners make a stand together to demand that the banks be held socially responsible for the largest theft in history–that our law enforcement agencies wake-up and prosecute them for fraud–and that the Idiots of Congress be removed ASAP !

    Carson City Nevada

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