Fannie Mae Eviction Vigil

 Neighbors and Supporters Start Vigil to Oppose Fannie Mae Eviction of Jennifer Britt

Offices of Senators Stabenow and Levin Seek Solution

What: Vigil at home of Jennifer Britt in opposition to Fannie Mae eviction
When
: Continuing Friday, July 20, and thereafter, until resolved
Where
: 15701 Warwick St. at Midland, Detroit’s Rosedale Park, south of Grand River
Who:
Neighbors, community advocates, union members, and faith-based advocates allied with the Eviction Defense Committee of Occupy

Supporters of Jennifer Britt and her family are mounting a vigil that will continue Friday and next week to oppose Fannie Mae’s court-ordered eviction of Jennifer and her family from their home in Detroit’s Rosedale Park. Senators Levin and Stabenow are questioning Fannie Mae’s actions.

Flagstar Bank refused to modify Jennifer Britt’s mortgage and foreclosed in 2010. Fannie Mae, the government-sponsored mortgage company under federal receivership since 2008, compensated Flagstar with taxpayer money and took possession of title. It now has an eviction order from 36th District Court to vacate the Britt home at 15701 Warwick Street.

“I think I’ve done everything you could ask of me to keep my home,” says Britt, who exhausted her life savings on escalating mortgage payments to Flagstar after her husband died and she was temporarily unemployed. She is now working two jobs and Southwest Housing Solutions, a non-profit housing group, has offered to buy the Britt home from Fannie Mae and keep Jennifer’s family in their house. Fannie Mae rejected the offer, which was based on the home’s appraised value, and insisted it would sell for no less than the $121,000 it paid Flagstar.

“Fannie Mae is harming taxpayers in Detroit and nationally,” says attorney Joe McGuire, who is representing Ms. Britt. “There is no buyer who will pay that amount in this depressed housing market, so this absurd position insures that another home will go empty and blight the community, causing harm to Jennifer and her family as well as her neighbors.”

The offices of Senators Carl Levin and Debbie Stabenow have intervened in the case on behalf of Ms. Britt, calling on Fannie Mae to account for its refusal to sell the home on favorable terms that would keep the family in their home. Critics of Fannie Mae point out that it has routinely sold repossessed homes to investors for less than market value, but refuses to do so for Jennifer and other homeowners facing eviction.

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Contacts: Joe McGuire, 313-969-7076 or Steve Babson, 313-605-7430