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

Is nothing sacred? PETITION TO STOP FORECLOSURE ON THE HIGHER GROUND EMPOWERMENT CENTER IN ATLANTA 13JAN12

THE greed of BBT is disgusting, but more than that it is sad. It is a sad commentary on the lack of morality guiding the financial institutions of this country. Please join Rebuild The Dream and click the header or link to sign the petition to BBT's CEO kelly king to stop the foreclosure on Higher Ground Empowerment Center and to work with the church to restructure their loan.

We’ve seen banks make some pretty audacious moves, but this one takes the cake. Just days away from the MLK holiday, BB&T bank is attempting to foreclose on one of the oldest churches in Dr. King’s old neighborhood -- Vine City in Atlanta, Georgia. The church, Higher Ground Empowerment Center, has been a cornerstone of one of Atlanta’s most historic and under-resourced communities for the past 108 years. After a tornado ripped through the property in 2008, the church was forced to take out a loan to cover the repairs. It has managed to pick itself up, rebuild, and continue servicing the community. But now BB&T wants to foreclose, ignoring the church's attempts to work with the bank to modify the loan. This church needs your help, so we've started an emergency petition. Sign the petition and tell BB&T's CEO Kelly King to stop foreclosure on this historic pillar of the community. BB&T took $3.1 billion in bailout money from the American people in 2008 and used it to eat up hundreds of smaller banks, acquiring another $26 billion in assets the following year. Higher Ground Empowerment Center is not asking for a bailout. For four years, they’ve simply been asking BB&T to modify their loan to something more reasonable, based on the property's fair value. But the bank has refused. Sadly, their situation is just like millions of other homes and properties with underwater mortgages -- banks just seem to lack all manners and decency, and often won't even return phone calls. In this case, the reason is simple -- the church is sitting on a valuable piece of land and the bank stands to make a huge profit. Since 2004, Vine City has been undergoing “urban renewal” efforts. Through this process, banks have foreclosed on business owners and residents in the short term, while profiting off of inflated property values in the long run. If this church is foreclosed, it will have a domino effect on the rest of the community. Occupy Atlanta has jumped in to support the Higher Ground Empowerment Center and the Vine City community. They've brought valuable attention to this situation, and the bank is showing that they're paying attention. Now is a critical moment to add momentum and show the bank that people across the country are watching. BB&T should be helping, not exploiting, the church and the Vine City community. Click here to sign the petition and tell BB&T CEO Kelly King to negotiate fairly with the church. Thank you for taking a stand, Van, Natalie, Billy, Jim, Ian, Somer and the rest of the Rebuild the Dream team

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