By: Laurel Galanter and Benjamin Kapinos
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About a dozen homeowners facing foreclosure protested Thursday at the Los Angeles County Courthouse. The demonstration was organized by the Home Defenders League, which is calling for a moratorium on foreclosure across California. Twenty-three states have already made this commitment.
The movement has been fueled by homeowners angry at the banks for seizing homes. Across the country, millions of poeple have lost their homes. Peggy is one of them.
“These are the banks who are once again making a profit and on whose back,” Peggy said. “We the people. We’re fighting back. The phoenix has arisen. We’re fighting back.”
They are losing their homes for a lot of reasons. Some lost their jobs, had health problems or could not handle escalating interest rates. Peggy is angry because she thought that after she lost her job, she was negotiating with the bank in good faith.
“It’s terrible, it’s terrible,” Peggy said. “They take your money, and you still lose your home.”
Then, she received a notice of foreclosure without warning. The league is demanding that banks first negotiate with homeowners before putting their houses up on the auction block.
