The damage caused by the “banksters” is epic and millions of Americans have a paid a heavy price. As the story goes, low-income and minority communities were targeted by “subprime” lenders peddling tricky loans. Mortgage brokers falsified documents to get bigger and riskier loans approved. An out of control and unregulated banking industry manipulated the system and sold the toxic mortgages to unsuspecting investors. All of this led to millions of people losing their homes through foreclosures, a collapse in housing prices, millions of jobs lost, and a bankrupt financial system that in 2008 was lucky enough, but not grateful, to be rescued by a massive taxpayer bailout.
That’s the why the Home For Good campaign is urging the 2012 presidential candidates to address the housing crisis during the election. Sign the petition asking the candidates to make a commitment to:
- 1. Stop needless foreclosures
- 2. Expand affordable rental housing
- 3. Revive a sustainable path to homeownership