President Obama has asked Congress to make it easier for responsible homeowners to refinance. Many Americans, who bought houses before the financial crisis, are locked in at high interest rates. Despite staying current with payments, they can't refinance at today's rates, which are historically low. Even if you have a good rate, or don't have a mortgage, lower monthly payments mean fewer foreclosures, maintaining property values in your community. More money to spend helps boosts our economy and creates jobs. More at WhiteHouse.gov.
FOR ACTION
Write your Senators and Congress. Contact NACA & Homeowners for Justice. If you're over 65, contact AARP to support bulk refinancing for the over-65 age group.
RESOURCES
Better Business Bureau (US & Canada) – File minor complaints online in 15 minutes for rapid action.
LawPivot – Ask your legal question online. Get brief answers free. Your question, and the name of the person who asked, may appear in search engines, so don't use your real name if your issue is confidential.
OVERVIEW
This website is dedicated to the 99% of the population trying to survive and thrive in a recession that made 1% of Americans rich at the expense of the rest of us. Hot tips on how to
• work from home & start your own business, or find your dream job;
• stay healthy under stress;
• celebrate holidays on a budget, giving cool gifts you can afford;
• stay true to your values & your dreams.
Recessions drive innovation and build community when we stay positive and share information.
GET THE SCOOP
Cards with hot tips, useful information, recipes, jokes and for recession survival. Easy to mail gifts with a message.
WATCH INSIDE JOB DVD about bank scandals — how the 1% super rich turned our USA into socialism for the rich (big bailouts for banks and the 1%) while many lost their jobs and their homes. Producer Charles Ferguson studied math at UC Berkeley, then launched the software company that developed Microsoft Frontpage, and is now a media producer exposing the real story about the downfall of the US economy and the 1% who profited. The NY Times describes how The Fear Factor can be used to manipulate the unwary, as David Unger writes in his new book, The Emergency State.
SAVE THE DREAM – NACA (Neighborhood Assistance Corp. of America) was founded by Bruce Marks, who predicted bank scandals while working for the Federal Reserve Bank. If you're facing foreclosure or underwater with an unfair mortgage, NACA can help. NACA also has a program for homebuyers. See coverage on CNN. But beware of scams. Proposals that require you to pay up front may be scams.
Illegal market manipulation (a bear raid), examined in a new study by the New England Complex Systems Institute (NECSI), supports earlier suspicions that raids played a role in the market crash, showing that banks themselves were under attack by other players on Wall Street. At a critical point in the financial crisis, the stock of Citigroup was attacked by traders selling borrowed stock (short-selling), which may have caused others to sell in panic. The subsequent price drop enabled the attackers to buy the stock back at a much lower price. The bear raid would have been prevented by a regulation that was repealed by the Securities and Exchange Commission in July 2007.
Sources
1. "Co-Chairs Grijalva, Ellison Call for
Justice for Underwater Mortgage Holders,"
Congressional Progressive Caucus,
February 29, 2012
2. "Edward DeMarco: The Ideologue Who's
Holding Homeowners—and the
Economy—Hostage," The Huffington Post,
February 14, 2012
3. "People Power vs Banker Power: Score
One for the People," Nation of Change,
January 25, 2012
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