Councilwoman Calling on Federal Housing Finance Agency to Declare Moratorium on Foreclosures

Has launched online petition; trying to gather 5,000 signatures

Councilwoman and Congressional candidate Tiffany Renee has launched an online petition asking the Federal Housing Finance Agency (FHFA) to declare a moratorium on foreclosures, auctions and evictions for the holidays.

Renee says she has personal experience with foreclosure, having been foreclosed on twice while growing up in Sacramento.

"Foreclosures, auctions, and evictions are always an extremely difficult experience, but they are especially painful during the holiday season when individuals and families want to celebrate with loved ones in the comfort of their homes," Renee wrote in her petition. 

"We implore the FHFA to show compassion during the holiday season for individuals and families who are facing hard times by temporarily suspending all eviction proceedings, auction notices, and delaying the start of new foreclosures until January 2, 2012."

Around the country, an estimated 1.5 million homes are in foreclosure. Petaluma has not been spared, with thousands of local families impacted. In October the number of local properties in some state of foreclosure jumped to 122, up from 90 in September, according to RealtyTrac.

On Monday, the City Council is expected to pass a resolution encouraging local banks to put a temporary moratorium on foreclosures. However, doing so may be impossible because most home loans have been bundled and resold and are not controlled by one institution and are held by large, diversfied, national or international lending companies, according to a housing counselor with Catholic Charities, which has been working with Sonoma County families who are in foreclosure.

Petaluma Patch's calls to Bank of America's corporate office asking if the bank would be willing to honor a temporary hold of foreclosures have not been returned.

Frankie2011 November 21, 2011 at 01:26 AM
I can relate to this. Except I am receiving threats of eviction for my 3 family members - my support animals I live in low-income housing, the same people, who support people, who face homelessness. I've been a good tenant for seven years. Resident Management has changed numerous times in 6 years. Beause of their management practices, I have been constantly charged with "violations" of a lease. When you do respond appropriately, you get no response. Is this the new accountability standard? They just ignore you and then violate you for standing up for your rights and questioning authority. I've been aggravated for over a year now.
eddyharris November 21, 2011 at 06:11 AM
Mortgage refinancing may be able to offer you benefits such as reducing your monthly payment, lowering the interest expenses you pay over the life of the loan, and/or increasing your cash flow by making more discretionary funds available to you every month. Check 123 Refinance to find refi rates in 3 sec.
Max November 21, 2011 at 08:15 PM
eddyharris, We can tell by your post, you don't have any idea what is happening out there. Banks are NOT refinancing, they are not cooperating with homeowners, even those who are current on their payments and have good credit. They are requiring people to have 25-30% equity in their homes to qualify for a refi. Unless you've owned your home for 20 years, no one can fulfill that requirement. For instance, if a homeowner owes $400,000 on a mortgage, and their house appraises at $475,000; they still will not qualify for a refi. This factor along with all the other hoops, Banks have purposely made it impossible to refi. for a reason. The Banks are not interested in keeping people in their homes. Because, all the bad loans are backed by the FDIC (our money). For instance, after JP Morgan Chase took over, WAMU they sent the Feds a bill for $8 billion dollars... with more to come. In addition to that JP Morgan previously also received $29 billion from the Feds with their acquisition of Bear Stearns. So much for "Free Markets". The Banks get to write off the bad loans, get reimbursed by the Feds, and get to keep the properties. There is no incentive for them to help people by refinancing the loan. It's a win-win for them and homeowners are out.
LongTimeLocal November 22, 2011 at 05:27 AM
Perhaps Tiffany could launch a knitting fundraiser - will do about as much good. Pay attention to Petaluma Tiffany, something that you were elected to do.
Linda Rowan December 21, 2011 at 05:21 AM
JP Morgan Chase have idiots working for them. If you call them you get someone from another country that you can hardly understand. Also,they have been know to put mortgage payments on anothers account...then you have to spend a year to prove THEIR mistake.


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