5,000 signatures reached
To: Mel Watt, Director of the Federal Housing Finance Agency
Mel Watt: Suspend Fannie/Freddie Evictions & Foreclosures NOW
We the undersigned, call on Mel Watt, the director of the Federal Housing Finance Agency - which oversees Fannie Mae & Freddie Mac - to immediately suspend all evictions and foreclosures by Fannie Mae & Freddie Mac until his administration reviews and changes key policies to keep families in their homes and end unnecessary suffering in our communities.
The changes we need include:
• Accepting Rent From Tenants & Former Owners After Foreclosure
• Giving Loan Modifications w/ Principal Reduction to the current market value
• Selling Back homes to occupants at current market value
• Donating vacant homes to community organizations to create affordable housing, which can be counted toward the required contribution to the National Housing Trust Fund (NHTF), as required by the 2008 Federal Bailout of Fannie Mae & Freddie mac.
•Putting more than $570 million into the National Housing Trust Fund that has been withheld by Mr. Watt's predecessor, Ed DeMarco.
Why is this important?
Mel Watt is the new director of the Federal Housing Finance Agency that oversees Fannie Mae & Freddie Mac. The previous director Ed DeMarco instituted policies that harm families, hurt communities and violate federal law. Fannie Mae & Freddie Mac are 79% owned by taxpayers, yet Fannie Mae policies privilege Wall Street and private investors at the expense of taxpayers and communities and discriminate against working people who are trying to keep their homes.
People like Jaymie Kelley who Mel Watt is now pushing to evict in Minneapolis. Jaymie has lived in her home for 30 years and paid for it five times over, but Freddie Mac refused to sell her home back or rewrite her loan to current market value. Jaymie organized her neighbors, fended off two eviction attempts, and garnered national media attention and support from her mayor and Congressman--but Watt's office is pushing to evict her anyway.
People like David & Yanick Dunwell and their three daughters in Springfield, Massachusetts who were foreclosed by Fannie Mae after David was laid off from his job of 17 years during the economic crisis. They now have a stable income, and can afford to buy their home for the current value, and a judge recently ruled that the foreclosure was done illegally, but Fannie Mae policies prohibit re-selling homes to former occupants for current value while encouraging post-foreclosure sales to third-party investors at below current value. Now Fannie Mae is moving to foreclose and evict again!
Mel Watt has an opportunity to overturn these policies and ensure that Fannie Mae & Freddie Mac serve the people, not the banks. While these policies are being reviewed and changes are being implemented, not one more Family should be put in the street by Fannie Mae & Freddie Mac.
Sign the petition to join thousands of residents who are fighting back against Fannie Mae & Freddie Mac, and visit: www.NowWatt.org for more information and resources.
Check Out Jaymie's Story:
Hear about the Dunwell's Fight
How it will be delivered
We will deliver this petition to Mel Watt at the FHFA and regional Fannie Mae & Freddie Mac Offices.