Communities Unite To Shame Lenders Into Cooperating

Obama Administration agrees with the tactic

 

Rene Taylor and Josefa Salinas, have something in common, they have been in Radio for over 20 years, both of them are community leaders, mothers and the face of Predatory Lending Victims and Loan Modification scams.  On December 12, at the Dockweiler Youth Center in Los Angeles, CA,   along with other community members, they will tell their stories at Save The American Dream Round Table and Community Town Hall meeting.  The event is hosted by Shirin Sharkawi, Author of Save The American Dream, How to modify Your Mortgage and Rebuild Your Credit,  Housing Advocate and Host of the Nationally Syndicated Homeownership Talk Segment, on the Warren Ballentine Show.

 

The Round Table and Community Town Hall meeting will be Web Cast Live to reach a national audience give Americans a voice to hold banks and political leaders accountable for Predatory Lending and Loan Modification scams (9:30 AM- 10:30 AM).  A four hour FREE Workshop, with a $10 donation of canned goods for the local food banks, will take place from 11:00 AM to 3:00 PM,  courtesy of Shirin Sharkawi and Heritage Begins Within Foundation.  The workshop is a part of a blue print that has been created to mitigate foreclosures, assist consumers in lowering their mortgage payments, while rebuilding their credit and will travel throughout the country starting in 2010.   (www.savethedreamworkshop.com)

 

Currently the administration has fallen short in meeting their goal to have lenders modify 5 million or more Americans.  Approximately 2% of eligible loans have been modified and the only way that banks are going to work with consumers is if they are held accountable.    The banks’ lack of cooperation has intimidated consumers to the point that 60% who lose their homes never contact their lender for a work out plan.  This combined with loan modification scams and a lack of knowledge on consumers behalf of the process, has spun foreclosures out of control.   In recent reports, the Obama Administration stated there concern about the lack of cooperation banks are showing homeowners and said they were willing to shame them into cooperating.    

 

 

“We are tired of bailouts that help banks such as Bank of American re-organize without holding them accountable for the loan.  When we borrow $100 on one of their credit cards, we are held to stricter rules than they were when they borrowed billions.     Bank of American has now paid back the money they borrowed from Tax Payers and they are free of any further stipulations but only modified 2% of eligible loans. “  comments Shirin Sharkawi. 

 

Each consumer that goes through the Workshop will be able to hold their lender accountable.  A lender report card will be created by each homeowner and on a monthly basis the results will be sent to lenders, The Federal Reserve, Treasury Department, President Obama, the media and posted online. Consumers will also have on going support through an online community that hosts thousands of homeowners all working together with experts www.homeownershiptalk.com       

With the support of community members, Battalion Chief Armando Hogan from LAFD,    Sergeant Ronald Cato of the LAPD and President of Oscar Joel Bryant, The Bakewell Company, The Los Angeles Sentinel, Danny Bakewell Jr., Cora Jackson President of the Black Personnel Association ad its,  December 12, will unite people from all walks of life to Save The American Dream.   People are mobilizing to ensure that what happened in the recent financial crisis does not happen again. 

 

The Round Table and Town Hall will be moderated by Josefa Salinas, Rene Taylor from Hot 92 Jamz Radio and Nationally Syndicated Talk Show Host, Warren Ballentine (www.thetruthfighters.com), Web Cast Live , broadcast on the Nationally Syndicated Warren Ballentine Show and on the Community Review on Hot 92 Jamz, the following week. 

 

Invites have been sent out to local and national political leaders, whom community members want to hear from during these risky economic times.   Collectively the group attending will have the ears of over 5 million possible voters who want to know what our local leaders plan on doing to assist in preventing loan modification scams, predatory lending and putting pressure on the banks to modify mortgages.  

 

Homeowners can sign up at  Sign up:www.savethedreamworkshop.com or 1-877-325-7411

Last update: 12-10-2009 00:00

Published in : News, Local

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