On Tuesday, October 26th, at 11:30 a.m., more than two dozen homeowners, friends, and community members marched into Chase Bank in downtown Burien, Washington and demanded an end to foreclosures in the state. These homeowners represented just a handful of the 225,000 underwater homeowners in the state of Washington. The action, organized by Washington CAN!,Continue reading “Washington CAN! Holds Action Demanding Big Banks To End Foreclosures”
Tag Archives: mortgage financers
Banks and Foreclosures: Where’s the Accountability?
Over the past several weeks Bank of America, Ally, and GMAC have announced that they have will be halting foreclosures in the 23 states that require a judge to sign off on foreclosures before eviction. Did this decision come from enlightened bank management who understand what is needed to stabilize the housing market and pullContinue reading “Banks and Foreclosures: Where’s the Accountability?”
Where’s the Note: Is Your Mortgage Affected?
Recent reports show the bankers in charge of approving the foreclosure paperwork weren’t even reading what they were signing. Wall Street has bought and sold our mortgages so many times, they’ve lost track of who owns what. And now they’re getting caught red-handed. In one state, two banks tried to foreclose on the same home.Continue reading “Where’s the Note: Is Your Mortgage Affected?”
Congress Passes Financial Reform Bill!
On Thursday, July 15, Congress passed the strongest financial reform bill since the Great Depression, tightening restrictions on banks and Wall Street, cracking down on lending practices, and expanding consumer protections in order to prevent a repeat of the 2008 meltdown, the consequences from which we are still reeling. President Obama will sign the billContinue reading “Congress Passes Financial Reform Bill!”