International relations senior A.J. Rice, left, and social relations and policy senior Kyle Mays listen to speakers at a protest calling for a moratorium on mortgages and foreclosures at the Capitol Tuesday night. “People are being displaced,” Rice said. “Being able to live in a house is a basic human right.”
Protesters gathered Tuesday at the steps of the Capitol in Lansing to talk about a mortgage situation as gloomy as the night’s dreary weather.
The Michigan Emergency Committee Against War & Injustice demanded the governor declare a state of emergency and put a moratorium on foreclosures and utility shutoffs before Gov. Jennifer Granholm’s State of the State Address.
Kris Hamel, a Detroit resident, held up a group banner while those stricken worst by the foreclosures spoke.
“We think the economic crisis in Michigan, especially with the record foreclosures that are happening, really call for an emergency response from the governor,” Hamel said.
Jerry Goldberg, a rally organizer, said a moratorium would put a hold on mortgage payments so those in debt could set a reasonable rent in court.
“What we’re finding in Michigan is the foreclosure rate is out of control,” Goldberg said.
The group based its demand on a similar move made in 1933, when foreclosures were put on hold from anywhere between six months and five years.
Jason Moon, a spokesman for the Michigan Office of Financial and Insurance Services, said a moratorium would have to go through the Legislature.
“We plan to work with mortgage companies to freeze the interest rates for those who can’t pay them,” Moon said.
Some protesters were skeptical of the governor’s response.
Derek Grigsby, a member of the group, was laid off from his job at the Detroit Water and Sewage Department. He said working with lending companies “would be like going to the lion to help out the deer.”
“How can you ask the people who put us in this situation with the predatory lending, their very deceptive contracts to get people into these (adjustable rate mortgage) agreements?” Grigsby said.
Students carrying “Moratorium to stop all foreclosures” signs rallied along with the group’s protesters.
Nik Pfost, a James Madison College freshman, was notified of the rally by the Young Democratic Socialists.
“It’s winter. It’s a matter of life and death for some people,” Pfost said.
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