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Group Protests Selling Of Foreclosed Homes

Last updated on Thursday, June 19, 2008

(INDIANAPOLIS) - An advocacy group protested around the city-county building Indianapolis for a moratorium on the sheriff’s sale of foreclosed homes.

David Van Thournout with "Acorn" says the grass roots organization has had success elsewhere delaying sheriffs foreclosure sales. He says homeowners need the time to negotiate with lenders to keep their homes. Indianapolis ranks 18th on the list of cities hardest hit by home foreclosures.

Van Thournout says affordable housing has been a big issue with acorn for years. They formed "Acorn Homes" in 1975 as a free HUD-certified home loan counseling service. They work with over 40 national lenders, including Countrywide's sub-prime customers.

The counseling service is subsidized by a federal government grant and helps homeowners re-negotiate their mortgages.

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