America's Top Housing Official Must Aid Struggling Homeowners

The Greenlining Institute just published this piece in the Huffington Post calling on Ed Demarco to act on principal reduction for the millions of homeowners whose homes are underwater. Preeti Vissa writes,

"DeMarco agreed to speak at an April 19 symposium organized by The Greenlining Institute that focused on how to restore and protect the dream of homeownership that seems to be slipping out of reach of so many Americans. At our meeting, DeMarco said he was "deeply concerned" about these underwater mortgages. He promised that FHFA would have something concrete to say about principal reduction by the end of April... But in an astonishing story published May 1, the Los Angeles Times reported [that the] FHFA was still working on its analysis of principal reduction and would have nothing to say until that analysis is done -- with no hint as to when that might be."

The underwater mortgage crisis is a key issue area for Rebuild the Dream. Check out America Underwater, the site we created with New Bottom Line, and the Tumblr that features the faces behind the underwater mortgages.

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