Discussion in 'News and Current Events' started by User Name Change, Apr 13, 2012.
holy crap, 1 in 4
Activists hope to turn resolution into real foreclosure suspension
'foreclosure fighters' rally outside City Hall before an April 2 land use committee meeting where the resolution first passed
PHOTO BY CAROL HARVEY
On April 10, the Board of Supervisors unanimously passed a resolution calling for a temporaray suspension on foreclosures in San Francisco.
The resolution "urges city contractors and all mortgage and banking institutions to suspend foreclosure activities and related auctions and evictions until State and Federal measures to protect homeowners from unfair and unlawful practices and provisions for principle reductions are in place."
This comes after a report from Assessor-Recorder Phil Ting found that 84 percent of foreclosures in San Francisco in the past three years involved faulty paperwork and, likely, fraud.
The resolution does not require anything, but instead urges the city to work on behalf of constituents swept up in the foreclosure crisis.
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