A recent editorial in the New York Times talked about new steps that President Obama has authorized to deal with the needs of homeowners dealing with foreclosures, especially unemployed homeowners and those with underwater mortgages. However, there are still problems with the government’s plans, as
The California Reinvestment Coalition released this report (PDF) about subprime lending to communities of color in California. Here are their key findings: Lenders saturated California neighborhoods with high-cost and predatory loans: In 2006, in each city, lenders were more likely to make high-cost loans in
Financial advisor Suze Orman spoke with CNN reporter Campbell Brown yesterday about stimulus money, mortgage relief, and the problems caused by the big banks. When asked about mortgages and the troubles faced by homeowners, Orman said “I have to tell you, while it’s easy for
Florida’s station WFSU ran this story about the need to help struggling homeowners: Florida is second only to Nevada in the number of foreclosures. The latest report from the real estate website RealtyTrac shows foreclosures in Florida increased two percent from October to November. One
AFR and other groups sent the following letter to members of the House of Representatives. Download the letter as a PDF. HELP MILLIONS OF FAMILIES STAY IN THEIR HOMES … AT NO COST TO TAXPAYERS! SUPPORT THE CONYERS-TURNER-LOFGREN AMENDMENT TO H.R. 4173 Dear Representative: We