Protest Pays Off: Eviction Canceled After Fannie Mae Demonstration

Protesters were inside a Bank of America location in Los Angeles Thursday, but outside a prior action against Fannie Mae appeared to be paying off for at least one victim of foreclosure.

More than 25 protesters occupied Bank of America in downtown Los Angeles, refusing to leave until the bank commits to keep families in their homes, pay a greater share of taxes and help rebuild neighborhoods hard-hit by the poor economy, according to an announcement by organizers.

Meanwhile, outside, homeowner Rose Gudiel, who was arrested at a Fannie Mae office in Pasadena protesting a foreclosure, announced that her lender now wants to meet with her regarding a modification of her mortgage. Some 1,000 supporters were present for the announcement, according to organizers.

“I’d like to announce that the bank called me today to arrange a meeting, to discuss a modification proposal from Fannie Mae. I have also learned that my eviction has been canceled,” she says. “We are very happy that they have finally come to the table, and I hope they are serious about negotiating a reasonable modification, which is what I have been requesting for over two years. And I hope that they will change their policies to stop taking the homes the thousands of hardworking families facing preventable foreclosure.”

The protests against banks in California and elsewhere are part of national protests against the nation’s largest financial institutions.

The ReFund California actions are part of a 10-city campaign aligned with The New Bottom Line, a nationwide coalition of 1,000 faith-based and community organizations that seek to hold Wall Street accountable.

They are distinct from, but share key goals with, the burgeoning Occupy Wall Street protests in New York and elsewhere, which have transfixed much of the nation in recent days and weeks.






Scott Nance is the editor and publisher of the news site The Washington Current. He has covered Congress and the federal government for more than a decade.

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