Stop Sheriff's Sale

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For immediate release

Woman locked out of her home

Foreclosure crisis takes ugly turn

On Monday, May 18, Leslie Parks arrived home from work to face a nasty surprise. While she was away, someone had changed the locks to her house. A key lockbox was hanging on the brand new door knob. There was no notice and no warning. It was clearly and illegal event.

Ms. Parks is living in a home owned by her mother - the family is a longtime part of the African-American south Minneapolis community. They are now casualties of the foreclosure crisis. The sheriff’s sale is scheduled for May 29. That means she should be allowed to stay in her home up through the sale and through the 6-month redemption period. To lock someone out her home, essentially “evicting” her with no verbal or written notice is shocking.

Leslie Parks has been speaking out  at the MN State Capitol in support of a moratorium on foreclosures and evictions. Her family is the victim of a fraudulent adjustable rate mortgage, an ARM. Facts from Parks’s May 11 testimony include: The city ordered Ms. Parks to have work done on her house. She didn’t have the cash handy, so she decided to refinance.  Ms. Parks told the broker that she wanted a loan exactly like she had before, which was fixed-rate mortgage. She assumed that is what the broker was working out for her. But the broker gave her an ARM - since he got more of a commission if her sold an ARM. Ms. Parks didn’t even know she had an ARM, since mortgage papers are very confusing and the broker didn’t let her know he was going against her wishes. Then the payments went up. Before this refinancing, Ms. Parks had perfect credit. She would have qualified for a conventional loan. But the broker sold her an ARM without her knowing. Now she can’t make the payments. Her credit is ruined.

Ms. Parks and other MN Coalition for a People’s Bailout members called a locksmith, who, after some hemming, hawing, fact checking and disbelief cut and opened the lockbox. Tonight, Ms. Parks is staying in a home that someone else has the keys to. SHE DOES NOT KNOW WHO ELSE HAS THE KEYS TO HER HOME TONIGHT. Tomorrow she has to take off work to get new locks and find out who did this to her. People’s Bailout members and others will be at Ms. Park’s home tomorrow until all these issues are resolved.

Leslie Parks, the Minnesota Coalition for a People’s Bailout, other housing advocates, various legislators, city council members and others will fight with Leslie to STOP the sheriff’s sale. The Parks family needs the chance to undo the fraudulent ARM. Banks got billions in bailout money - it is time for poor and working people to get our bailout.

Contacts: Linden Gawboy 612-296-5649, Kim DeFranco 651-341-6751

http://www.mn-peoples-bailout.org/