Residents facing foreclosure in San Francisco’s Excelsior and Oceanview neighborhoods plan to call on banks to help on Saturday, in a protest tied to the National Move Your Money Day of Action.
The 94112 zip code has the highest number of foreclosures in San Francisco, with 1,918 homes projected to be foreclosed between 2008 and 2012, according to the Alliance for Californians for Community Empowerment.
Residents from that zip code on Saturday plan to deliver demands for mortgage modifications, principal reductions and greater investment in home ownership to several banks in the area. Organizers say that if the banks, which include Wells Fargo, Bank of America, Citibank, Chase and US Bank, are not responsive, they plan to launch a campaign to move community money out of those banks.
An online movement has declared Saturday Nov. 5 as “Bank Transfer Day,” which encourages participants to move their money from corporate banks to credit unions.
The group will speak at 4650 Mission Street Saturday at noon.
Sara Gaiser, Bay City News