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Local group's action convinces lender to stop foreclosure

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buy this photo Vernell and Valeria Armour talk about the meeting demonstration Thursday, June 19, 2008, that was staged at Countrywide Bloomington office. The Central Illinois Organizing Project is assisting the Armour in an attempt to stop the foreclosure by Countrywide. (Pantagraph/CARLOS T. MIRANDA)

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  • Local group's action convinces lender to stop foreclosure
  • Local group's action convinces lender to stop foreclosure

BLOOMINGTON - There is power in numbers. About 100 people working with the Central Illinois Organizing Project gathered in the entryway and spilled into the hallways of Bloomington's Countrywide Home Loans on Thursday afternoon to save a Bloomington couple's home from foreclosure. | Video

To the repeated chants of "Get 'em on the phone" and "Save the Armours' home," CIOP members and supporters attempted to get the attention of staff at the Eastland Drive office. They wanted to save the home of Vernell and Valeria Armour, senior citizens CIOP believes were the victims of predatory lending practices.

Initially, they didn't get far and left without speaking to anyone in charge - but they got part of what they wanted about an hour later.

Countrywide Financial, parent company of the Bloomington office, agreed to halt the foreclosure proceedings and meet with CIOP to negotiate a settlement, said Dawn Dannenbring, CIOP staff organizer. The company is the owner of the home equity loan the Armours obtained for their ranch home on James Place.

CIOP wants Countrywide to forgive the entire loan, claiming it was made under false pretenses.

"Organizing works," Dannenbring said. "You get that attention."

Bloomington police officers also arrived on the scene as the group was leaving. There were no arrests or charges filed against demonstrators because it was a peaceful gathering, said spokesman Duane Moss.

Countrywide Home Loans referred questions to the corporate office, which did not return a call for comment.

The Armours' home was completely paid off when they inherited it from Valeria Armour's mother in 1995. They took out a loan for repairs in 2004 with a corporation that wasn't licensed to be a broker and then refinanced in 2005 with another company that lied about Valeria Armour's income so they would qualify before Countrywide obtained the loan, Dannenbring said.

"We want them to be able to stay in the home that was given to them, free and clear," said Julie Buckles, a leader with CIOP, at a gathering at the Armours' house before the demonstration continued at Countrywide.

Dannenbring had tried to get Countrywide officials to work with them for the past three months, and was especially concerned because the couple has limited education and cognitive abilities.

"This is a demonstration with a purpose. We have demands for them to meet. It's not just a protest. We want to work this out," Dannenbring said. "We only use action as a last resort. This is because they have refused to participate in any kind of dialogue."

Vernell Armour, 75, has dealt with stress and medical conditions since they haven't been able to make their payments. They never imagined they could be threatened with losing their home when they got that loan a few years ago, said his 66-year-old wife.

"It's really heartbreaking," Vernell Armour said.

They're more optimistic now that CIOP has stepped in to help them.

"It's really appreciated that they came out. Their support helps," Vernell Armour said.

Sue and Terry Cain of Bloomington attended the action to show their support.

"We think it's an unjustice," Sue Cain said. "If they can bail out (Wall Street bank) Bear Stearns … why in the world aren't they helping people?"

Not everyone was quite as supportive, though.

While participants gathered in front of the Armours' home, a few neighbors watched from down the street. Next-door neighbor Matt Augsburger even picked the time presenters were speaking to turn on his lawn mower.

"I thought it was a joke," Augsburger said. "For them to blame Countrywide with all this, it's bogus."

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