Welcome login | signup
Language en es fr
We are the 99 percent

Articles tagged fannie & freddie

Tomorrow in Atlanta: The People vs. Fannie Mae & Freddie Mac. Homes Are For People, Not Banks!

Posted 11 years ago on Sept. 9, 2012, 7:09 p.m. EST by OccupyWallSt
Tags: fannie & freddie, occupy our homes, atlanta, foreclosure defense

There are 6 vacant homes for every 1 homeless person in America

Where: Meet at the Buckhead MARTA Station in Atlanta, Georgia
When: Tomorrow at 10:30am
RSVP on Facebook

On September 10, 2012, HUNDREDS of people from all over the southeast will converge on Fannie Mae's regional headquarters in Atlanta to demand an end to their abusive practices and to declare housing as a human right.


Fannie Mae and Freddie Mac control over 60% of the mortgages in the US. After gambling with people's money, and buying up subprime mortgages during the housing bubble, they were placed under conservatorship of the US government in 2008, receiving billions of taxpayers dollars. Now, 4 years later, they continue to put people out of their homes, and are the biggest obstacle to fixing the housing crisis. Edward DeMarco, who currently oversees both Fannie and Freddie through the FHFA, refuses to offer principle reduction to help over 16 million underwater homeowners find relief and stay in their homes. They are more cruel than even the big banks when it comes to evictions, and post foreclosure options, and to top it all off, have begun selling off foreclosed properties in bulk to the same investors and hedge-funds that crashed the economy in the first place.

Its time to put a stop to this, and to demand the wealth that was stolen from our communities be restored. Thousands of people are fed up are ready to fight back, and are coordinating actions across the country against Fannie Mae and Freddie Mac to occur in the same week.

Our demands include:

  • Principal Reduction for all underwater homeowners to real market value
  • an end to Fannie and Freddie Evictions, and the right to rent after foreclosure
  • the sale of foreclosed properties to occupants and non-profits at the same discounted rate they are offering to shady investors
  • that they turn over vacant and abandoned properties to community controlled entities to provide long term affordable housing

Click here to read the stories of people fighting back: http://wearethefanniefreddie99.tumblr.com