Housing Activists To Petition Attorneys General On Foreclosure

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.

  • Larry

    Don’t make your payments, lose your collateral. Am I missing something here?

  • emrl

    More freebees for those who should have NEVER had a mortgage or home loan they could NOT afford, Those politicans and community activits want everything for free and the middle class will pay for you sheep are led to the slaughter, the economy is going to kill the adverage middle class taxpayer!

  • Jim

    Middle class = losers. Upper class pay little tax as a percentage of their income while lower class gets EVERYTHING for free!

  • Garry

    Why should anyone get a principal reduction? These were loans, not gifts, not subsidies, and not welfare. If this is allowed to happen, the market for mortgages will be so tight that many who would qualify, will not be able to get a loan. Loans for homes in other countries are difficult to get, with large downpayments of 40% or more. Why should anyone pay their principal if these people are allowed to be relieved? No, never, ever, under any condition would I support that giveaway.

    • johnw

      I am a hardworking homeowner who pays taxes to fund the welfare payments and free housing and endless entitlements for unwed teenage baby mommas with umpteen kids who have never worked and will never work for a day in their lives. So it is now my turn to cash in as well. I want the principal on my mortgage lowered to match the value of my home.

  • billyd

    They’re a bunch of shakedown artists. Probably learned their “craft” at the Reverend Jackson Rainbow Academy of Fraud and Duplicity.

    • Right

      Jesse is the problem. I remember an article when he said not enough loans are made to minorities. When the goverment gave in and banks made low-interest loans to people with bad credit and then they defaulted, Jesse, along with other minority activists said it was the banks’ fault. Now, they want more discriminatory handouts for their supporters. Stop voting for people that these activists support (almost all liberal democrats) and these problems will begin to go away.

  • Sarah Miles

    Why they can’t try to change something by doing this kind of acts?
    Let them go there and make their show


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