ACORN Members call on McCain to Back Fannie/Freddie Foreclosure Freeze

Philadelphia ACORN members confront McCain Campaign in Philadelphia on September 16, 2008.

ACORN Members call on McCain to Back Fannie/Freddie Foreclosure Freeze

Philadelphia –About 2 dozen ACORN members gathered to call on Presidential candidate Senator John McCain to join his colleagues in calling for a freeze on foreclosures of the Fannie Mae and Freddie Mac portfolios which were recently placed into conservatorship by the federal government. Recently, Senators Charles Schumer, Sherrod Brown, Bob Menendez, and Bob Casey called on the Federal Housing Finance Agency and the two Government Sponsored Enterprises to institute a 90 day moratorium on foreclosures of loans owned by the mortgage giants. “We think it’s long overdue that the McCain campaign actually get serious about what they’re going to do to help hard working American families.” Said ACORN member Christina Jones, who is struggling with an adjustable rate mortgage.
ACORN is also demanding that all delinquent loans owned by Fannie and Freddie be pulled from their securities and modified to a fixed rate interest and a monthly payment that is affordable to the homeowner, and will call upon Senators McCain and Obama to join in this demand to ensure that American homeowners will share in the benefits of the recently announced federal takeover. ACORN leader Junette Marcano said, “It’s tough for me to understand how John McCain can own 7 luxury homes, but doesn’t think it’s important to help working families save their homes.”
The rally was part of ACORN’s statewide “Stop Foreclosure” campaign; most recently, ACORN members won a new program, the Philadelphia Sheriff Sale Diversion Program, that has saved 100s of homes in the past three months. In addition to this event, activists from across the state will travel to Harrisburg for a statewide “Stop Foreclosure Day of Action” on Thursday September 18th. During the day of action, activists will attend a hearing in support of McGeehan’s bill to replicate the Philadelphia diversion program statewide and protest the Republicans planned use of the foreclosure filings to suppress the November vote.

ACORN is the nation's largest community organization of low- and moderate-income families with over 400,000 member-families organized into 1200 neighborhood chapters in 103 cities nationwide. Since 1970, ACORN has taken action and won victories on issues of concern to our members, including better housing for first-time homebuyers and tenants; living wages for low-wage workers; more investment in our communities from banks and governments, and better public schools.