Legislature Considering End to Controversial "Dual-Tracking" in Foreclosures
Minneapolis rabbi to testify, impacted Golden Valley resident Rose McGee among those attending.
Wednesday morning, State Reps. Mike Freiberg (DFL-Golden Valley), Karen Clark (DFL-Minneapolis) and Raymond Dehn (DFL-Minneapolis) introduced new legislation to end a controversial practice used by mortgage lenders during foreclosure proceedings.
Southwest Minneapolis rabbi Michael Adam Latz of the Shir Tikvahsynagogue will be among the testifiers, according to a post on his Facebook page. A copy of Latz's testimony is posted above as a PDF.
"Our protest is to demand that those of our friends and our neighbors, our congregants and our family members who work hard and play by the rules don’t have the rules changed along the way so the banks are favored at the expense of our homes and our communities, because this is not what democracy looks like; treating every citizen with respect, with dignity and compassion is what democracy looks like," he told legislators (PDF). "But you, you leaders sitting in this room today; you, Republicans and Democrats, good people of faith, have been elected to rest your heads on the hard pillow of leadership each night."
Full video of both Wednesday's press conference and hearing are available on TheUptake.
Legislators and activists are taking aim at a controversial practice called "dual-tracking," when representatives from a mortgage company work with the homeowner to refinance the loan, while simultaneously, someone else in the company begins mortgage foreclosure proceedings. California has passed similar legislation in the form of a homeowner's bill of rights.
McGee, a victim of dual-tracking, has become the public face of a local campaign against the practice. Earlier this month, Shir Tikvah played host to a rally in support of McGee featuring Rep. Keith Ellison (D-MN). The rally was part of a metro-wide bus tour raising awareness of the issue.