Monday, September 10th, 2012 touched off a national week of action targeting Fannie Mae and Freddie Mac. Led by the Fannie and Freddie 99, groups of fearless families from across the country marched through Chicago, Atlanta, Los Angeles and New York to defend their homes.
In Chicago, the Chicago Anti-Eviction Campaign, the Centro Autónomo of Albany Park (Chicago), Occupy Our Homes Minnesota and Moratorium Now! (Detroit) participated.
Fannie and Freddie own 59% of all mortgages in the US. American taxpayers bailed out Fannie and Freddie in 2008, and now we own 79% of these financial institutions. However, these behemoths refuse to take positive steps to end the housing crisis. Ed DeMarco, the Director of the Federal Housing Finance Agency (which oversees Freddie and Fannie) would rather steamroll through the eviction and foreclosure process and sell vacant homes to the same investors that caused the crisis than take measures to keep families in their homes. The Fannie and Freddie 99 demand that Obama fire DeMarco and replace him with someone who will stop all evictions of Fannie and Freddie properties, carry out principle reduction on mortgages, and stop selling vacant homes to investors.