We did it! BB&T bank backs down 17JAN12

HERE is a good news story that shows that when people are united for a just cause victory is possible. BB&T has reached an agreement with the Higher Ground Empowerment Center and renegotiated the church's mortgage to a rate they can afford to pay! Because of a massive public outcry against foreclosure on the church BB&T backed down (see my post on this blog IS NOTHING SACRED? 13JAN12). Thank you to everyone that signed the petition to BB&T!

Incredible news! More than 65,000 Rebuild the Dream members like you signed a petition to help save a community church from an unfair foreclosure and eviction by BB&T, one of the ten biggest banks in the country. And we did it! After an intense, 3-hour negotiation today, BB&T backed down and agreed to a fair deal with the Higher Ground Empowerment Center church. This victory was a complete turnaround, led heroically by local activists at Occupy Atlanta and Rainbow PUSH Coalition. The sudden groundswell of media coverage, local community action, and our national petition forced BB&T's hand. This outcome shows: when we're united, we can stop big banks in their tracks and get them to treat people with dignity. The more banks that have public re-negotiations like this, the bigger the momentum will be for millions of other struggling homeowners who are in the same boat. Can you let your friends and family know about this victory? It's important to spread the word that when we work together, we can accomplish great things. This morning, the church met with bank executives at their high-rise office building in downtown Atlanta. After hours of negotiation, the bank agreed to modify the loan to make it possible for the church to pay it back over time. Just as importantly, the bank agreed to transfer the deed of the property back to the church. (The bank had seized ownership of the property last year. This was a critical issue for the church, which could not bear to "rent" a property they had owned for longer than a century.) The bank even agreed to meet with community members in the surrounding Vine City neighborhood next month to discuss ways in which BB&T can invest in the local community. "Today was a triumph for Higher Ground!" said Senior Pastor Dexter Johnson. "Thank God for Occupy Atlanta! Thank God for Brother Joe Beasley [of Rainbow PUSH Coalition]!" "BB&T has done the right thing, and we're grateful for that," said Tim Franzen of Occupy Atlanta. "Today is an overwhelming victory for the Occupy Movement and the Vine City Community. We couldn’t have done it without Rebuild the Dream. And this is just the start of a lot of work we must all do for struggling underwater homeowners and property owners across the country." Thank you to everyone who signed the petition and took a stand for justice and dignity! The petition showed that people across the country were paying attention to BB&T's actions, and added important leverage during the negotiation today. Tell your friends! On Facebook | On Twitter | By Email Rebuild the Dream applauds BB&T's decisions. They should treat all of their customers -- especially those with underwater mortgages -- with the same kind of common sense they showed today. And all banks across the country should do the same, even when the media spotlight is NOT shining on them. Rebuild the Dream will keep campaigning for homeowners and property owners everywhere. The banks got their bailout; NOW LET'S BAIL OUT THE PEOPLE. It will take all of us acting together to win, just like we did with the Higher Ground Empowerment Center church. Thanks for taking a stand, Van and the Rebuild the Dream team