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The Massachusetts Affiliate of the Green Party of the United States
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Bailouts and Foreclosures

The Green-Rainbow Party is a founding member of the Massachusetts Alliance Against Predatory Lending (MAAPL). 

  • We support a moratorium on housing foreclosures and on evictions of renters in foreclosed properties.
  • Lenders should be required to negotiate affordable mortgages for every homeowner caught in the trap of subprime or other inappropriate mortgages.
  • Foreclosed properties should be made availble for acquisition as affordable housing by non-profits or community development organizations.
  • We support direct aid to struggling individuals and families, but oppose Federal bailouts of corporations, financial institutions, and wealthy investors -- the parties who created the mortgage crisis.

join the conversation about bailouts and foreclosures: http://www.green-rainbow.org/economy_blog

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@NaytDX mentioned @GR_Party link to this page. 2012-10-22 18:58:50 -0400
Bailouts and Foreclosures http://t.co/H9cnoD3o via @gr_party
commented 2012-07-22 12:43:36 -0400 · Flag
Perhaps the City of Boston could follow the footsteps outlined in Matt Taibi’s Rolling Stone article.

The city would take underwater or to-be-foreclosed homes by eminent domain, paying the loan company the current market value of the home, while arranging a writedown of the previous mortgage, so that the residents can re-finance with the city, despite the banks, at the current, real value of the home. Then the city would sell the new mortgage on the mortgage market, I guess.

I recommend Matt Taibi’s article, at:

http://www.rollingstone.com/politics/blogs/taibblog/from-an-unlikely-source-a-serious-challenge-to-wall-street-20120720

Brian
published this page in Issues 2011-10-25 22:15:07 -0400