San Franciscans Fed Up With Foreclosures Call For Moratorium At City Hall

SAN FRANCISCO (KCBS)— A rally on the steps of San Francisco’s City Hall took place Monday during the Board of Supervisors meeting and called for the city to go on record in favor of a foreclosure moratorium.

“Hey, hey what do you say? No foreclosures any day,” was their rally call in response to areas of the city hit hard by bank foreclosures on homes that residents simply can’t afford.

The activists from Bernal Heights and other hard hit areas of the city have the support of several supervisors, including John Avalos who authored the resolution of a moratorium in support of the California Homeowner Bill of Rights.

KCBS’ Barbara Taylor Reports:

“This is beyond any individuals’ shortcomings. It’s the shortcomings of the system that has preyed upon us,” Campos said.

One activist shouted how he wasn’t going to take it and was willing to fight for what he claimed was his.

Supervisor David Campos agreed saying the banking industry has been exploiting home owners with predatory mortgages and the city should force for changes in the system.

“We always take the lead when it comes to fighting for social justice. That’s what this is about. We have a foreclosure crisis in this country,” Campos said.

Although San Francisco can’t force banks to stop foreclosures, they can adopt non-binding resolutions urging them to give homeowners a break.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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