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New Yorkers call for Moratorium on Foreclosures
*FOR IMMEDIATE RELEASE* Brooklyn, NY—New Yorkers will gather outside of the Kings County Supreme Court on Thursday, October 13 at 2:45pm to raise awareness about the foreclosure auctions that take place there each week. Every week in New York City, in all five boroughs, homes are put up for auction and sale. Speculators purchase homes at discounted rates to flip them. Banks buy back homes to balance their books—evicting homeowners and letting the homes lie vacant. Wall Street is the cause of this systematic displacement of New Yorkers. Wall Street Bankers turned mortgages into “securitized instruments” and sold them for profit. Their greed demanded the creation of mortgage-backed securities. Without blinking, they used predatory loans to lure homeowners into mortgages with impossible—and unseen— interest rates. Occupy Wall Street and Organizing for Occupation (the group that led the eviction blockade at Mary Lee Ward’s home on August 19, 2011, www.O4ONYC.org) have teamed up to raise awareness about the weekly auctions and to hold Wall Street accountable for the foreclosure crisis! OCCUPY WALL STREET and ORGANIZING FOR OCCUPATION call for an IMMEDIATE MORATORIUM ON ALL FORECLOSURES IN NEW YORK STATE until loans are modified and made fair and sustainable! *** Thursday, October 13, 2011 at 2:45pm at Kings County Supreme Court, 360 Adams Street, Brooklyn Rally in Columbus Park (next to Borough Hall) 2/3 and 4/5 to Borough Hall, N/R to Court Street, A/C/F to Jay Street ***
-Hundreds head to Courthouse to protest Foreclosure Auctions!!-
Contact: Karen Gargamelli 212-‐213-‐3920 firstname.lastname@example.org