The San Francisco Board Land Use Committee has passed the Home Foreclosure Moratorium Resolution unanimously, after the majority announced their intention to vote. There were homeowners, who are currently undergoing or have underwent California Foreclosure Process, who gathered at the Press Conference on City Hall steps to express their emotions and thoughts about the pain and suffering that they experienced because of what the huge banks, particularly Wells Fargo Bank, put them and their neighbors through.
During the Land Use Committee hearing inside the City Hall, Kathryn Galvez spoke about the eviction she experienced after undergoing the California foreclosure process as well as the eviction that Wells Fargo had her go through. She was evicted from her Noe Valley Victorian home where she lived for 40 years. She told the court about the health implications this experience has put on her, her sister and her dog. After the bank kicked her out, Vivian Richardson of Occupy San Francisco took her household in on the same day that they were evicted. In addition, Maria Villareal also spoke about the health stress that the Wells Fargo’s threat of California foreclosure process brings upon her and her husband, who recently had surgery.
The hearing tackled about the commissioned report, “Foreclosure in California: A Crisis of Compliance,” which is an audit where in the Equitas Corporation researched and studied statistics and discovered irregularities in a majority of foreclosures focused on communities of color. After which, they discussed action plans and strategies as well as what the City and County of San Francisco can do that would address the foreclosure crisis that families or households from certain neighborhoods experience. quiet title
A housing counsellor for the San Francisco Housing Development Corporation named Ed Donaldson suggests the potential of a Boston model that includes a solution that consists of two parts. First is to lease the property back to the client, then come up with a loan pool that will give the client an opportunity to purchase the property again. http://lts.me/~7gsmaf
At the end of the hearing, a resolution was sponsored to urge the City and County officials and departments to put the welfare and protection of homeowners from unlawful California foreclosure process on top of their priorities. City contractors as well as all mortgage and banking institutions, most especially San Francisco-based Wells Fargo are also urged to freeze their foreclosure activities, which includes all related auctions and evictions. Finally, a six-member quorum of the Board unanimously passed the resolution for a moratorium on California foreclosure process to protect homeowners for now. The resolution was forwarded to the entire Board of Supervisors, and possibly pass this during the up coming Board meeting on the 10th. quiet title