We have already heard too much from bailed out banks. Their corporate greed clearly knows no bounds as they continue predatory lending practices after taking tens of billions from the government, which they failed to use to jump-start economic recovery. And now we've heard from Treasury Secretary Timothy Geithner, who rolled out his controversial Financial Stabilization Plan today that will devote $50 billion to help dam up the flood of foreclosures drowning our economy. Who have we not heard from?
How about the 2.3 million Americans who faced foreclosure proceedings last year? How about the 860,000 people whose homes were repossessed by lenders? How about the millions more out there right now struggling to renegotiate their mortgages with banks bent on reducing lending, restricting loans, and lying about conditions? Those are the heartrending stories we haven't heard yet, but that's about to change.
Today, Brave New Foundation is unveiling its newest campaign: Fighting for Our Homes. The website enables anyone affected by the housing crisis to tell their tale in their own words, either by recording it on camera or writing it down and submitting it with a photo of the house in jeopardy. Watch as people from around the country give accounts of their nightmarish ordeals. These stories fill up an interactive Google map symbolizing the toll this economic meltdown has taken on Main Street homeowners, reminding us of the consequences of irresponsible lending and corporate malfeasance.
The site is meant to put a personal face on the foreclosure crisis. To that end, you'll hear from Holly, a Disney World worker from Orlando, Florida, who was unaware her mortgage company had her on an adjustable mortgage for five years. Now that her payments have doubled, she may be unable to prevent foreclosure and save her home for her granddaughters. You'll hear from Penny of Houston, Texas, who fell behind on mortgage payments because her insurance company didn't cover damages from Hurricane Ike. You'll hear from Debra of Pittsburgh, Pennsylvania, a widow fighting to hold onto her home of 33 years because of an unjust high-interest loan.
You won't hear from bank CEOs, Wall Street investors or government officials. That's because this is about the eight million Americans who could face foreclosure in the coming years. Their personal stories make this crisis resonate at a time when too many talking heads in the press have failed to underscore the urgency of this situation because they're caught up trying to break down the recovery into understandable terms.
Fighting for Our Homes coincides with efforts from groups like ACORN, USAction, and the Industrial Areas Foundation, an organization that has been doing some outstanding work in the Los Angeles area fighting to keep people in their homes. Tom Holler, an organizer with the group, told me, "To date, plans have been made to deal with the carnage created by the foreclosure crisis. Nothing has been forthcoming to prevent or stem the tide of future foreclosures."
Meanwhile, ACORN is kicking off its Home Defenders campaign around the country this weekend, training volunteers to engage in civil disobedience and help families facing foreclosure hang onto their homes. According to ACORN President Maude Hurd, "With no help in sight until today, ACORN is taking dramatic action to combat the decimation of our communities by disrupting foreclosure auctions and developing teams of community residents ready at a moment's notice to block foreclosure evictions and keep hard-hit families in their homes."
By telling the stories of those facing foreclosure, we can better understand what's at stake, connect with those in need, and take action with grassroots initiatives to prevent this crisis from getting any worse.
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