Activist community group ACORN held a rally at the Allegheny County Courthouse to raise awareness concerning the rising number of mortgage foreclosures.
The group asked Sheriff William Mullen to halt the monthly public sales of foreclosed properties for at least six months stating that predatory lending is to blame for the rising number foreclosures.
A report and video from KDKA Channel 2 : “According to the group, the number of foreclosures has more than quadrupled over the last decade with about 5,000 people losing their homes each year.”
“Foreclosures in Allegheny County are on pace to exceed 6,000 this year up from 2400 in the year 2000.”
“KDKA's Andy Sheehan confirmed that the FBI is investigating one local mortgage broker.”
“Now, a $25 million rescue bill has been proposed in the state legislature. ACORN is asking the sheriff to stop the foreclosure sales until that bill has passed.”
“‘Pennsylvania housing is working on a plan right now to help individuals in this circumstance,’ Lee told KDKA, ‘and we think that if there's a possibility of just holding off some of the mortgages, some people may be able to save their homes.’”
ACORN is the nation's largest community organization of low- and moderate-income families, working together for social justice and stronger communities. Since 1970, ACORN has grown to more than 350,000 member families, organized in 850 neighborhood chapters in over 100 cities across the U.S. and in cities in Canada, the Dominican Republic and Peru.
The Pennsylvania Housing Finance Agency is the Commonwealth's leading provider of capital for affordable homes and apartments. Created to help enhance the quality and supply of affordable homes and apartments for older adults, persons of modest means, and persons with disabilities, the Agency operates homeownership programs, rental housing development initiatives, and a foreclosure prevention effort.
Allegheny County Sheriff Sales are held on the first Monday of each month in the Gold Room on the 4th floor of the Allegheny County Courthouse, 436 Grant Street, Pittsburgh, Pennsylvania.
Monday, June 4, 2007