foreclosures

FOR IMMEDIATE RELEASE
June 19, 2009
1:53 PM

CONTACT: National Low Income Housing Coalition
Taylor Materio 202-662-1530 x227; taylor@nlihc.org

Toolkit for Renters Facing Eviction Due to Foreclosure Now Available on NLIHC Website

WASHINGTON - June 19 - The National Low Income Housing Coalition (NLIHC) has collaborated with the National Housing Law Project (NHLP) to create a new online toolkit providing a range of information for renters facing foreclosure-related evictions, their advocates, and others, including members of the media. The components of the toolkit explain the implications of the recently passed Protecting Tenants in Foreclosure Act of 2009 (Public Law 111-22, Division A, Title VII), a bill that offers important new rights to tenants living in properties that have gone into foreclosure.

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The National Low Income Housing Coalition is dedicated solely to ending America’s affordable housing crisis. Established in 1974 by Cushing N. Dolbeare, NLIHC educates, organizes and advocates to ensure decent, affordable housing within healthy neighborhoods for everyone. NLIHC provides up-to-date information, formulates policy and educates the public on housing needs and the strategies for solutions.

National Low Income Housing Coalition Links:

Posted in foreclosures, housing

Homeowners Seeking Gov’t Loan Mods Are Fed Up

Last week, Christina McGrath of Riverside, Calif., got a loan modification. Now she has some advice for the millions of homeowners out there still seeking one: Call 10 to 15 times a day. Ask for the president's office. Get informed. Don't take "no" for an answer.

"The only way I got this was by being a royal bitch," she says.

Posted in Economy/Trade, foreclosures

Banks in Recovery as Home Foreclosures Hit Record

BOSTON - Just months after getting a massive handout from Uncle Sam to prevent the collapse of Wall Street, big banks say they are back on solid ground and ready to repay the money.

The banks are selling stock and debt, and racking up excellent returns on mortgages, loans, high credit card rates and refinancings.

Three big banks, Goldman Sachs, JPMorgan and Morgan Stanley, say they are so healthy now that they can begin to pay back the billions they were given by the U.S. Treasury in December when they said they were on the brink of failure.

Posted in banks, foreclosures, housing, inequality

Still There, Foreclosed No Longer

$\"I'm a happy homeowner again with a payment I can live with,\" said Thomas Quinn, with his daughter Hayley and his girlfriend, Pam Morrison. (Globe Staff Photo / John Tlumacki)$

Thomas Quinn did something that most people who lose their homes to foreclosure can only dream about: He bought back his family's Hyde Park house.

Posted in Economy/Trade, foreclosures

Scapegoating Blacks. Again.

A simple, yet likely powerful, explanation has now been offered for the subprime mortgage lending and foreclosure problems that have fed the nation’s gravest economic crisis since the Depression.

The beauty and simplicity of this explanation makes one wonder why it took so long for us to see it. According to this view, it was the fault of Black people!

Posted in discrimination, financial crisis, foreclosures, housing

US Foreclosure Filings Jump as Moratoriums End

NEW YORK - U.S. foreclosure activity leaped 46 percent in March from a year earlier, hitting a record high as programs stunting the torrid pace of failing mortgages expired, RealtyTrac reported on Thursday.

A temporary freeze on foreclosures by major banks and government-controlled home finance companies Fannie Mae and Freddie Mac ended before President Barack Obama's massive housing stimulus, unveiled on March 6, could take root.

Filings, which include notice of default, auction sale or bank repossession, jumped 17 percent in March from February.

Posted in Economy/Trade, foreclosures

Stopping Foreclosure: One Woman's Home

Activists gathered at the foreclosed home of Rosemary Williams in south Minneapolis yesterday, vowing to stay as long as necessary to prevent her from being evicted.

Posted in Activism, financial crisis, foreclosures

Those Hit Hardest Get No Bailout

Taxpayers' bailout money for AIG bonuses has rightfully provoked a massive backlash against AIG, Wall Street, President Barack Obama and his economic advisers, Treasury Secretary Timothy Geithner and Larry Summers. The U.S. public now owns 80 percent of AIG. The outrage is bipartisan: Iowa Republican Sen.

Posted in bailout, financial crisis, foreclosures, main street, wall street

ACORN, MoveOn Target House Dems

Republicans hammered Barack Obama over his connection to ACORN during last year’s election, but now ACORN is taking a swing at some Democrats — with the help of liberal activists at MoveOn.org.

The role reversal arises out of the groups’ anger at moderate House Democrats who opposed a housing bill that has more generous bankruptcy rules for people facing foreclosure.

Posted in Activism, Economy/Trade, foreclosures, housing

Staving Off Another Great Depression

The Washington policy debates of the last week would almost make a casual observer believe that the nation's political leadership is in fact nostalgic for the good old days of the Great Depression when the country suffered double-digit unemployment for a decade.

Posted in financial crisis, foreclosures, job loss