Victory: Bank Accountability Movement Gets Rose Mary Gudiel Out of Eviction

Cross-posted at Firedoglake

By: David Dayen Thursday October 6, 2011 2:44 pm

The bank accountability movement that has grown parallel to the #OccupyWallStreet protests, and has benefited from its energy, won a high-profile victory today. Rose Mary Gudiel is a California public employee facing eviction because of a two-week delayed payment
at a time when her brother was shot and killed. She can make the
payments now, but her mortgage holder and servicer refused to accept
payments for two years, and pushed Rose Mary into foreclosure. She had
her story taken up by The New Bottom Line, which orchestrated a week of protests
in Los Angeles with Gudiel in the spotlight. They took Gudiel to the
CEO of her bank, OneWest, and sat her down at a negotiating table,
demanding a mortgage modification. Family and neighbors of the Gudiels
stayed in the home, resisting any effort by the LA County Sheriff’s
Department to carry out the eviction. Gudiel engaged in a sit-in at
Fannie Mae while asking for a decision on her mortgage, and she was arrested with 8 other activists, including her disabled mother.

I guess the bad publicity was too much. Gudiel got her modification.

I’d like to announce that the bank
called me today to arrange a meeting, to discuss a modification proposal
from Fannie Mae. I have also learned that my eviction has been
canceled. We are very happy that they have finally come to the table,
and I hope they are serious about negotiating a reasonable modification,
which is what I have been requesting for over two years. And I hope
that they will change their policies to stop taking the homes the
thousands of hardworking families facing preventable foreclosure. Thank
you.

This is a tangible victory for the bank accountability movement, and
it shows that if the banks can do right by Rose Mary Gudiel, they can do
right by anyone. And this will actually improve their bottom line in
the process, by converting a foreclosure into a performing mortgage.

The announcement from Rose Mary Gudiel comes amidst a volley of
actions in Los Angeles. 1,500 activists are marching downtown, in a
Refund California event that members of the Occupy LA movement are participating in. In addition, 25 activists have occupied a Bank of America branch downtown.

We can now see that public pressure can have an impact on one woman’s life. Now it’s time to build and grow from there.