Insight News

Feb 11th

Monique White wins negotiation to save her home from foreclosure

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Photo credit: Occupy Homes MNAfter a seven-month campaign led by Occupy Homes MN, Monique White has been offered a new loan by US Bank.

In October 2011, White was the first homeowner in the nation to approach the Occupy movement and ask for help in defending her home from what she believed was an unlawful foreclosure. Occupy Homes MN said the seven-month campaign to save White’s home set a historic precedent in the bank and foreclosure reform movement. The new loan was offered some 15 months after the end of the redemption period with a payment in keeping with the home's current value.

Supporters camped out in and around White’s home, led over a dozen marches; even marched to the home of US Bank CEO Richard Davis.

"I'm so thankful for all of the support during this process," said White. "Through it all I kept my faith in God and fought for what's right. Right now I'm just thankful that my family and I will get to keep my home."
"Monique is truly a hero of the Occupy movement," said organizer Anthony Newby with Neighborhoods Organizing for Change (NOC), which has worked closely with Occupy Homes MN. "This deal sets a historic precedent for what communities can accomplish when they unite around this issue. If this deal can work for Monique White, it can work for homeowners around the country."

Nick Espinosa, an organizer with Occupy Homes MN whose family's home is also in foreclosure said, "Monique's victory gives hope to the millions of Americans around the country facing foreclosure. This shows that the banks can and must enact a grand bargain that would help every homeowner to stay in their home, whether they are in foreclosure or underwater on their mortgage, by reducing the principal on their homes to the actual market value."

Organizers with Occupy Homes MN said the group is currently working with dozens of other families in the metro area and around the state to bring big banks to the table to negotiate a reasonable solution to the foreclosure crisis. This past week they began an around-the-clock defense of the south Minneapolis home of Alejandra and David Cruz, who face imminent eviction.

The south Minneapolis home, where the couple has lived for seven years, entered foreclosure last year when, according to the Cruzes, the bank failed to withdraw the monthly online payment and demanded two months payment as a result of its error.


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