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Mortgage Payers Protest Obama Campaign HQ

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(Sacramento, CA)
Thursday, March 15, 2012

Millions of people nationwide have stopped making their mortgage payments and as a result are getting help with some of their principal.  Others… who've never missed a payment are getting no help at all.    Two dozen of those people picketed Obama/Biden Sacramento campaign offices on Folsom Boulevard Thursday chanting, "President Obama Take a Stand."    

The protestors are also Obama supporters, so, they were welcomed with open arms by members of the Obama campaign staff, who hugged those carrying in the 350 letters from self-described suffering Sacramento homeowners. 

Ruth Burrow was one of the protestors.  She's paying her mortgage, but she isn't sure why.

BURROW: "Aren't I kind of crazy to stay in a home that I owe $336,000 on and you sell it for $149,000?  Why would I stay in a home like that?"

She says the principal of her loan should be lowered to where it would be if mortgage companies hadn't first made loans to unqualified people.  She says that drove home values up …and then lenders foreclosed on the same people, which then drove the market down. 

Eleven million people owe more than their homes are worth nationwide.  About a million-and-a-half homes are in the process of foreclosure.
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