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Activists looking to save the homes and credit of thousands of homeowners facing foreclosure due to predatory mortgages are asking the Cook County Board to authorize a moratorium on all subprime foreclosures.

Groups of homeowners and community leaders from several county districts descended on the County Board meeting November 2 to present their demands. Impressing upon the Board the urgency of their cause with their strong presence, the groups won a meeting with John Stroger, the President of the Board of Commissioners. Another Commissioner also approached the groups after the board meeting and asked to be involved.

"People are losing their houses at an alarming rate and those people that are in foreclosure need the process stopped that's going on right now where they could lose their homes," said Sonia Torres, a leader of the Northwest Neighborhood Federation. "We need to look at those loans and if it was a predatory lending situation the homeowners deserve relief."

Foreclosures by sub prime lenders, lenders who charge excessively high fees and interest rates, have skyrocketed over the past six years. According to NTIC data, sub prime lenders started 101 foreclosures in 1993 and 3,847 in 1999. Since 1996, 5,555 individuals and families have been forced out of their homes due to sub prime foreclosures.

Community groups have been working hard to get their County Commissioners' support for their campaign. Commissioners Maldonado, Silvestri, and Sutker have agreed to both sponsor a resolution putting a moratorium on foreclosures and to continue working with community groups on the issue. With excitement mounting over their campaign, community groups will continue to push the County Board to take action and provide relief to victims of predatory lending.