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Tell the Banks You Support a Homeowners Bill of Rights
Dear Readers --
Come to Long Beach City Council tomorrow on Tuesday, May 8 at 5pm and urge the City Council to support my resolution in support of California Attorney General Kamala Harris' "Homeowners Bill of Rights" which would stop many of the practices that have caused and are causing Long Beach residents to lose their homes in foreclosure.
The Homeowners Bill of Rights would provide:
- Basic standards of fairness in the mortgage process, including an end to dual-track foreclosures
- Transparency in the mortgage process, including a single point of contact for homeowners
- Community tools to prevent blight after banks foreclosure upon homes
- Tenant protections after foreclosures
- Enhanced law enforcement to defend homeowner rights - paid for by fees imposed on banks
- A special grand jury to investigate financial and foreclosure crime
Long Beach's Foreclosure Registry indicates that current foreclosures are particularly high in most Council Districts: 1 (113); 2 (192); 3 (96); 4 (135); 5(128); 6 (108); 7 (195); 8 (156); 9 (208). Many homeowners are fighting to keep their homes. In the past 12 months, real estate experts indicate that 74 of homes in Long Beach have decreased value and 37 percent of Long Beach homes are underwater - with their homes selling for less than the amount originally paid - and severely impacting the stability of our local economy.
I have been informed that the banking industry opposes the "Homeowners Bill of Rights" and will be sending representatives to city council to stop this resolution.
Come to the City Council and tell them to support the homeowners in Long Beach.
Thanks for reading this email and for taking time to care.
Councilwoman, 5th District
P.S. Click here to read a copy of my resolution and more details about the Homeowners Bill of Rights.
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