Read

Error message

Notice: Undefined index: base_url in include_once() (line 125 of /home3/occupyco/public_html/dev/sites/default/settings.php).

User menu

Search form

Fannie Mae Evicts Family in Foreclosure, Then Installs Armed Guards

Fannie Mae Evicts Family in Foreclosure, Then Installs Armed Guards
Wed, 5/1/2013 - by Kari Koch
This article originally appeared on Truthout

On January 16, 2013, just after 5 a.m., a dozen sheriff's deputies and 10 Portland police officers forcefully evicted the original Portland foreclosure fighters, Debbie and Ron Austin, from their northeast Portland home. The eviction was at the demand of the government sponsored and funded mortgage finance vehicle, Fannie Mae.

The family was evicted, but their home is not empty. A force of armed private security guards from McRoberts Security was immediately installed in Debbie Austin's home. The guards have been on 24-hour duty in the home ever since.

Typical cost for private security indicates that Fannie Mae is spending $480 to $600 a day, or $15,000 a month on 24-hour armed guards. Since the Austins' January eviction, Fannie Mae has spent nearly $50,000 of essentially public money to keep one home empty.

"It was horrifying. I was standing on the sidewalk at 6 a.m. in my pajamas watching the sheriff change the locks and seeing armed security forces enter my home," said Debbie Austin. "Fannie Mae is a publicly owned company and this is how they treat me and my family? My husband is a veteran; my daughter is in college, and we have lived here for 27 years. No one deserves to be treated like this!"

The Austins came out as the first family in Oregon publicly fighting their eviction in December 2011. In the years before, both Debbie and her husband Ron were diagnosed with cancer and slipped into foreclosure. During foreclosure, the family tried to get refinancing or modification and was financially able to make payments, but the bank continued with the foreclosure proceedings. The Austins tried to fight for their home in court, but, like many contesting foreclosure, they could not afford a lawyer and were unable to compete with the Fannie Mae's local legal team.

If Fannie Mae truly cared about keeping families in their homes, as they say they do, they would work with families to find solutions. If Fannie Mae spends about $15,000 a month to guard one home, they may be spending millions on such security around the country. Instead of working with homeowners to negotiate a rental situation, or a refinancing modification, they are paying for an armed force to keep these homes empty.

Along with Freddie Mac, Fannie Mae finances about two-thirds of the mortgages in the US and was involved in the national housing collapse. The New York Times reported in 2011, "Fannie and Freddie, created to increase the availability of mortgage loans, misused the government's support to enrich shareholders and executives by backing millions of shoddy loans. Taxpayers so far have spent more than $135 billion on the cleanup."

Community members who support the Austins are organizing to get them back in their home, going so far as to hold a sit-in at the Multnomah County Sheriff's office and winning a path toward an eviction moratorium in Portland. Fannie Mae has no office in Oregon or the Northwest, and the attorney responsible for filing the Austins' eviction paperwork on behalf of Fannie Mae claims to have no power to negotiate with homeowners, leaving no known company representative in the region where the Austins live.

Of all the banks foreclosing on homes, Fannie Mae is in the best position to simply stop foreclosing and work with homeowners to renegotiate their mortgages. There is a national effort through the Home Defenders Network for Fannie Mae to immediately reinstate the Austins into their home, work with the family to return them to their home permanently, and replicate that model with families all around the country. Fannie Mae could be setting a national example of getting families back in their homes with minimal harm; instead they are preying on working people and acting like the big wholly private banks. In the end, foreclosure and eviction are bigger than one family. It is time to put a moratorium on evictions, while the Attorney General investigates the big banks for fraud and irregularity.

The Austins are part of We Are Oregon, a community-based effort in Portland to fight against foreclosures and evictions. WAO is working with more than a dozen families to defend their homes, six of whom are publicly resisting standing orders by order of a court, the city or the sheriff to leave their homes.

Originally published by Truthout.

 

3 WAYS TO SHOW YOUR SUPPORT

ONE-TIME DONATION

Just use the simple form below to make a single direct donation.

DONATE NOW

MONTHLY DONATION

Be a sustaining sponsor. Give a reacurring monthly donation at any level.

GET SOME MERCH!

Now you can wear your support too! From T-Shirts to tote bags.

SHOP TODAY

Sign Up

Article Tabs

prison reform, incarceration rates, private prisons, for-profit prisons, white supremacy, enslavement, climate justice, racial justice, Green New Deal

The year 2020 has caused many white people to realize we live in a racist system. The Green New Deal is about systemic change for all, and deconstructing racism must be front and central in this agenda.

coronavirus pandemic, Donald Trump, Boris Johnson, Jair Bolsonaro, COVID-19 deaths, downplaying coronavirus

By infecting three of the world’s most right-wing leaders, the coronavirus underscored not only the incompetence and irresponsibility of their governments – but the truth that their brand of populism doesn't keep people safe.

COVID-19, corporate bailouts, corporate welfare, corporate destruction

Corporations are not "too big to fail" and, when they commit crimes, they are not "too big to jail." As David Whyte writes in his new book, "Ecocide: Kill the Corporation Before It Kills Us," the moment is now to rein in out-of-control corporate power.

The world has lost an incredible thinker and doer. I have lost an amazing friend. A void exists where before it was filled with David's optimism, humour and joy.

Kevin Zeese speaks at a rally for Chelsea Manning. By Ellen Davidson.

Kevin fought to bring truth every day. We must not lose this struggle.

prison reform, incarceration rates, private prisons, for-profit prisons, white supremacy, enslavement, climate justice, racial justice, Green New Deal

The year 2020 has caused many white people to realize we live in a racist system. The Green New Deal is about systemic change for all, and deconstructing racism must be front and central in this agenda.

coronavirus pandemic, Donald Trump, Boris Johnson, Jair Bolsonaro, COVID-19 deaths, downplaying coronavirus

By infecting three of the world’s most right-wing leaders, the coronavirus underscored not only the incompetence and irresponsibility of their governments – but the truth that their brand of populism doesn't keep people safe.

COVID-19, corporate bailouts, corporate welfare, corporate destruction

Corporations are not "too big to fail" and, when they commit crimes, they are not "too big to jail." As David Whyte writes in his new book, "Ecocide: Kill the Corporation Before It Kills Us," the moment is now to rein in out-of-control corporate power.

The world has lost an incredible thinker and doer. I have lost an amazing friend. A void exists where before it was filled with David's optimism, humour and joy.

Kevin Zeese speaks at a rally for Chelsea Manning. By Ellen Davidson.

Kevin fought to bring truth every day. We must not lose this struggle.