Volunteers Needed!

[rokhlita.livejournal.com]

Our Neighbors are being evicted and our community destabilized by the foreclosure crisis!

The Community Action Agency of Somerville (CAAS) in collaboration with Cambridge & Somerville Legal Services (CASLS) is initiating a post-foreclosure outreach and organizing campaing in Somerville.

We are asking YOU to join us as we go door-to-door to foreclosed properties in Somerville to talk with owners and tenants about their rights and how it may be possible for them to stay in their homes.

WHEN: Sunday, November 1st, 1:00-4:30PM
WHERE: CAAS, 66-70 Union Sq., Somerville
(Located directly above the Precinct Bar. 
Take bus #87 from Davis Sq.)

WHAT: a brief training, some snacks,
lots of door-knocking, and a quick debrief.
PLEASE RSVP TO: Rachel Bedick, 617-623-1392 ext. 141

Comments

Re: What I don't understand is the following...

[ahoc-somerville.livejournal.com]

My understanding (I'm far from an expert on this) is that re-negotiating your mortgage calls the "assets" the bank can claim into question, at least if they do this on a large scale.

If they auction it off (including for a lesser price) this may not trigger a re-evaluation of the "value" of the property.

I'm not really sure though; this is just my suspicion.

Re: What I don't understand is the following...

[ocschwar.livejournal.com]

If they foreclose and DON'T auction, they can avoid re-valuing the house.

So the house sits vacant and becomes a hazard on the block. Nice, eh?