Housing Activists To Petition Attorneys General On Foreclosure
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CHICAGO (CBS) – Housing activists are taking their demands to a meeting of state attorneys general at the Drake Hotel Tuesday afternoon.
As WBBM Newsradio 780’s Regine Schlesinger reports, the activists prepared a welcome package for the attorneys general. It includes a tourist map marking not Chicago’s landmarks, but the city’s foreclosed home.
LISTEN: Newsradio 780’s Regine Schlesinger reports
Divinity professor Mikael Broadway, one of the leaders of National People’s Action, says attorneys general have been at the forefront of the fight against fraudulent foreclosure practices.
“It started with the robo-signing, but it’s much, much more than that,” he said, “and we’re asking for a very strong settlement which helps homeowners stay in their homes; which promotes loan modification, and foreclosure only as a last resort.”
The group wants the states to put pressure on lender for loan modifications, including principal reduction, to help homeowners underwater on their mortgages.