Newsflash:
End Mass Criminalization Elizabeth Warren Elizabeth Warren Says Washington Must Act Now To Help Stem The Tide Of Foreclosure
Wednesday, 22 February 2012 07:54

Elizabeth Warren Says Washington Must Act Now To Help Stem The Tide Of Foreclosure

Written by  ElizabethWarren.com

Backs MA Congressmen, Attorney General Coakley Calling on Federal Housing Finance Agency to Take Action To Prevent Unnecessary Foreclosures

BOSTON – It is past time for the Federal Housing Finance Agency (FHFA) to step up and help prevent unnecessary foreclosures in Massachusetts, said Consumer Advocate Elizabeth Warren, reinforcing calls from members of the Massachusetts Congressional delegation and Attorney General Martha Coakley.

Warren, one of the nation’s experts on bankruptcy, credit and housing finance, said she is speaking out to amplify calls from Congress and the Massachusetts Attorney General and to increase pressure on the FHFA to take action.

"The foot-dragging in Washington has stalled economic recovery and has hurt our families," said Warren. "We need a housing policy that fires on all cylinders: principal write-downs, refinancing options, cash for keys, and short sales."

Warren long has advocated for the federal government to take more aggressive actions to stabilize the housing market.  As the principal architect of the Consumer Financial Protection Bureau, a government watchdog agency that protects consumers from the financial tricks and traps hidden in mortgages, credit cards, and other financial products, Warren pushed for greater accountability and oversight of foreclosure practices nationwide.  "We must never forget that this economic crisis began one lousy mortgage at a time," Warren said.

Last week, Massachusetts Attorney General Martha Coakley called for the FHFA to change its position and expand loan modification programs, including principal write-downs, to stabilize the housing market and prevent unnecessary foreclosures. U.S. Reps. Barney Frank, Michael Capuano, and Stephen Lynch have all urged the FHFA to follow the Attorney General’s call for action.

"Foreclosures don’t just harm the families that lose their homes.  They also have powerful effects on whole communities, depressing home values and putting a drag on local economies," said Warren.          

Link to original article: ElizabethWarren.com

Read 6801 times Last modified on Wednesday, 22 February 2012 08:06

End Mass Criminalization Articles

PDA In Your State

Join "Countdown to Coverage" Share TPP with your Daily Newspaper

CWA devised a simple plan for which they were uniquely suited: drag TPP out of the shadows and into the light - one city at a time - using a medium they understand intimately: Daily Newspapers!

Two CWA members - Dave Felice in Denver, CO and Madelyn Elder in Portland, OR have started the ball rolling. We just need to keep up the momentum leading up to a big day of petition deliveries.

Button-ShareTPPWithNewspaper

Step 1 is to send an Op-Ed to your Daily Newspaper.

Write Your Local Newspaper and say We Can Create Jobs Now

Congress has a solution for creating jobs and job training programs but the newspapers never talk about that. Government isn't broken and government can create jobs. Make sure that people in your community know that this is possible.

Step 1 is to send an Op-Ed to your Daily Newspaper.

Sign the ERA Petition

ERADemandButton

On Friday, September 12th more than 150 activists will go to DC and Demand that their Senators and Representatives support removing the ratification deadline from the ERA (SJ Res 15 and HJ Res 113)

Button-SignERAPetition

Hand Deliver a Letter to your Rep on Jobs

If your Representative is not currently a cosponsor of HR 1000 they may not completely understand how important full employment is to your community; click on your state at the bottom of this page to see all the cosponsors in your state. Nothing sends a stronger message to a Congressional member than a personal visit to a district office by a voter with a written request. Phone calls and emails are incredibly important but nothing gets attention like a personal visit. Our Educate Congress page has information and a sample letter. Print the letter, sign it, deliver it.

Button-HandDeliver