For Immediate Release: March 22, 2010

Contact Person: Sharon Black 410-218-4835

apcbaltimore-AT-pipeline.com


EMERGENCY PROTEST: SAVE RENEE'S BALTIMORE HOME!

WHAT: PICKET LINE & PRESS CONFERENCE
Save Renee?s Baltimore Home?
Stop Bank of America from Foreclosing--
Protest the Actions of Foreclosure Attorneys Cohn, Goldberg & Deutsch.


WHEN: Wednesday, March 23, 2010, 12 Noon


WHERE: Offices of Cohn, Goldberg & Deutsch

600 Baltimore St., Towson, Maryland 21204


WHO: Renee Washington DeFreitas and supporters


Sharon Black an organizer with the Network to Stop Foreclosures and Evictions, stated,

?We will be picketing the foreclosure attorneys in Ms. DeFreitas?s case because we feel

they have been unscrupulous in rushing to foreclose on her home even before the process

of reviewing a home modification has been made. In addition, Bank of America has not

even had a face-to-face mediation meeting as stipulated by state law.?



She continued, ?What we are seeing is a pattern borne out by government statistics that

points to a silent bank bailout that is not only costly to taxpayers but has resulted in countless

foreclosures. In Renee DeFreitas?s case we are demanding that the attorney?s at this law

firm cease the foreclosure process.?







BACKROUND INFORMATION




Renee Washington DeFreitas, a 51 year old state employee and mother of five did everything

she was suppose to: she worked hard long hours, volunteered for overtime when it existed, saved

her money, and bought a home with the hope that she would have something as she grew older,

both for herself and her children and grandchildren.



But along came the economic crisis. State workers were forced to take pay cuts and furlough days,

non-paid days that drastically reduced her already meager salary. And her husband, whose income

she had counted on left.



Her once ?dream home? has now became a nightmare.



Renee did everything.



In her own words in a letter to HOPE, she stated, ?I worked my whole life so I could get my own home,

which I did, and also make me proud to have my own, but now it?s a burden. I have used my savings

to pay my mortgage, along with my 401 (k). I?ve even gone as far as asking family members to help.

I have went into my insurance policies in order to keep my house.?



She also did everything right with Bank of America filling out long forms and submitting over 44 pages

of documentation to its BAC Home Loan Servicing to apply for a home modification on her loan.

She did this all in a timely manner.



But, at the same time that she was being advised to fill out forms and to get in touch with HOPE,

Bank of America was beginning the foreclosure process through the law firm of Cohn, Goldberg & Deutsch.



Renee Washington represents the thousands of workers who are being unjustly and even

illegally thrown out of their homes. Please sign the petition below to the Bank of America and to

local and state political leaders.



THE FORECLOSURE CRISIS IS GROWING


By the government?s own accounts (www.house.gov) approximately 7 million homeowners will lose their

homes in the third quarter. Julie Gordon from the Center for Responsible Lending testified that with the effects

of high unemployment millions more would be added to these numbers. She estimated that by the time this

crisis abates as many as 13 million families will have lost their homes.



The Home Affordable Modification Program has fallen short because banks have simply not abided by the law.

The promise of HAMP was that 3 to 4 million homeowners would be helped with loan modifications.

But to date only 650,000 homeowners are now in a trial modification. Only a fraction of those have actually

received a permanent loan modification.



In addition HAMP does not address those workers who have lost their jobs completely, a major shortcoming

for the 30 million who are unemployed and left out in the cold.



BIG BANK BAIL OUT CONTINUES BEHIND THE SCENES


How is it that bank profits are rising while foreclosures grow exponentially? The reason is that the government

is increasingly guaranteeing bank losses due to foreclosures by reimbursing the lenders at the full value for

overvalued mortgages when there are defaults. This ?silent bailout? continues every day.



Fannie Mae and Freddie Mac, which guarantee about half of the country?s mortgages, were taken over by the

government in July 2008. Fannie and Freddie are burning so much cash bailing out the lenders that the Treasury

is considering an infusion of another $400 billion in taxpayer funds into these entities (New York Times, Dec. 17).

Coupled with funds from the AIG and GMAC bailouts, which are being utilized to pay off lenders on foreclosed

properties, it is estimated the total government lifeline to the banks could rise to $1 trillion. The effect of this

continued bailout is that it actually discourages bank lenders from reducing the principal on mortgages whose values

they inflated through their predatory lending practices. This is because they know the government will pay them

full value. In addition, why even abide by HAMP and keep people in their homes, when there is so much profit to

be made in foreclosing.



MORATORIUM NEEDED


The Moratorium-Now Coalition in Michigan and the Community/Labor Coalition for a Moratorium in

Los Angeles have been leading the way in calling for a moratorium on all foreclosures and evictions.

The present situation cries out for a moratorium. Jerry Goldberg, an attorney with the Moratorium-Now Coalition

pointed out, ?Even the Helping Families Stay in Their Homes Act passed in May 2009, states that it is the sense

of Congress that there should be a moratorium on foreclosures until the Treasury Department certifies that HAMP

has been implemented.? HAMP has obviously not been implemented.



TOGETHER WE CAN STAND UP AGAINST THE BANKS


It?s time for the people to make them do what?s just and right: ?No more foreclosures; No more evictions.?

Let?s work together to not only keep Renee DeFreitas in her home but also every one from Baltimore to LA, from

Detroit to Miami, from Cleveland to Houston.



In Baltimore, we are launching a campaign to stop Bank of America?s foreclosure of Renee DeFreitas.

This includes not only a national petition campaign, but picket lines, meetings and protests.

It also includes utilizing whatever legal avenues may be at our disposal. This campaign will show that people

can stand up, fight back and win.



We cannot allow a trillion dollar bank like BOA, which has received millions of our tax dollars to destroy

the lives of our friends, neighbors and co-workers. Every empty house not only crushes the dreams of its

former occupants?it crushes the dreams of an entire community.



We can?t and won?t allow them to do it. If push comes to shove, we will organize a

?Community Stay-in at Renee?s House? to stop the sheriff.



Issued by: Network to Stop Foreclosures & Evictions

2011 N. Charles St. Lower Level, Baltimore, Maryland 21218

Phone: 410-218-4835

Email: apcbaltimore-AT-pipeline.com



PLEASE TAKE A FEW MINUTES TO SIGN THE PETITION

(Please note as of January 22, 2 p.m. 604 people have signed this petition)



Dear Bank of America,



We the undersigned are calling on you to immediately stop the foreclosure proceedings

on the home of Renee DeFreitas (BAC Home Loans Servicing Reference# 185960769).

Instead, sit down with her and representatives of the Network to Stop Foreclosures and Evictions,

to work out a home modification loan as stipulated under the Home Affordable Modification Program HAMP.



Every empty house not only crushes the dreams of its former occupants?

it crushes the dreams of an entire community.



Sincerely,







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