Shortcut Navigation:

AFL-CIO Now

Showing blog posts tagged with foreclosure

Tell the Federal Government: Lift the Restriction on Principal Reduction

Photo courtesy Mark Blacknell on Flickr

Since the beginning of the Great Recession and the associated housing crisis, one of the most damaging trends in the United States is the foreclosure crisis, where too many Americans have lost their homes. And while the recession has officially ended, the foreclosure problem continues, with millions of Americans in danger of losing their homes. But there is a way to slow down this crisis and make sure that the number of displaced families is minimized, and Color of Change is leading the charge, with a petition to the director of the Federal Housing Finance Agency, Mel Watt.

Read more and comment »

100 Days to Fix What Wall Street Broke: Wells Fargo Shatters Retirement Dreams

Photo by OccupyFightsForeclosure/Flickr

Wall Street wrecked the economy and banks are still refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama over the next 100 days to champion an agenda that would:

1. Hold bankers accountable for their crimes.

2. Keep people in their homes by resetting their mortgages.

Sign the petition here

Beverly Jones shared this story of how Wells Fargo hurt her family. Read more from 100 Stories of What Wall Street Broke:

Read more and comment »

100 Days to Fix What Wall Street Broke

Wall Street wrecked the economy and banks are still refusing to work with people who are trying to stay in their homes. The Campaign for a Fair Settlement, along with other partners, is calling on President Obama over the next 100 days to champion an agenda that would:

1. Hold bankers accountable for their crimes.

2. Keep people in their homes by resetting their mortgages.

Sign the petition here

Read more and comment »

Big Banks Agree to Settle Charges of Foreclosure Abuse

Illustration by outacontext/Flickr

Ten of the nation’s largest banks agreed earlier this week to settle charges of foreclosure abuse with federal regulators. After the housing bubble burst, banks allegedly processed foreclosures improperly and mishandled homeowners’ applications for mortgage modifications. The resulting foreclosure crisis hurt all working families. Homes lost value, especially in communities of color that were among the hardest hit.

Read more and comment »

Video: Nevada State AFL-CIO Urges Sen. Heller to 'Bring Jobs Home'

Nevada has the highest unemployment rate at 12 percent and the highest foreclosure rate in the state. Workers in the building trades industry are experiencing 60 percent to 90 percent unemployment. 

This is why Danny Thompson, Nevada State AFL-CIO executive secretary-treasurer, and local unions gathered outside the office of Sen. Dean Heller (R-Nev.) last week to ask him to support the Bring Jobs Home Act (S. 3364 [formerly S. 2884]), which is expected to get a vote on Thursday. Watch the YouTube video here

Read more and comment »

Bank Foreclosure Settlement Money Should Be Used to Help Homeowners

Bank Foreclosure Settlement Money Should Be Used to Help Homeowners

Earlier this year, state and federal law enforcement officials negotiated a historic legal settlement with the Big Banks that had abused the rights of homeowners during the foreclosure crisis. As part of this settlement, the Big Banks agreed to pay $2.5 billion in penalties to the states for programs to help prevent foreclosures.

Sadly, in many states these funds are now at risk of being diverted away from helping struggling homeowners.

Read more and comment »

Arizona Private Prisons, 1 - Troubled Homeowners, 0

The Republican majority in the Arizona House just voted to approve a budget, a compromise with Republican Gov. Jan Brewer, that critics say underfunds education, health care and public safety. But the most shocking item in the budget proposal is a plan to transfer $50 million from funds intended to help homeowners facing foreclosure to the private prison industry. Worse, some Republican legislators want to "save money" by removing auditing and oversight from private prison contractors.

Read more and comment »

Trumka: Foreclosure Settlement ‘First Step’ to Housing Crisis Solution

The $25 billion foreclosure settlement with five of the nation’s biggest banks, announced this morning by federal and state officials, is a “step in addressing the housing and foreclosure crisis that plagues our country,” says AFL-CIO President Richard Trumka.

Read more and comment »

Pity the 1%! Billionaires Bemoan Criticism by ‘Imbeciles’

It’s tough these days being a member of the top 1 percent, what with all the complaints about the widening income gap and tax breaks for billionaires, not to mention the demands of the 99 percent for a little accountability. “It feels lonely…,” said John A. Allison IV, former CEO of BB&T, one of the nation’s top 10 banks, to Bloomberg News.

Read more and comment »

Tell the Banks: This Home Is Occupied

The Occupy Wall Street movement has given a voice to the 99 percent of us who have suffered at the hands of the Big Banks. In cities across the country, “Occupy” protesters have highlighted our nation’s growing economic inequality, high unemployment and the foreclosure crisis that continues to ravage our communities.  We saw another inspiring example of the 99 percent standing together in recent days in Atlanta.

Read more and comment »

Online Community

Connect With Us

  • Facebook
  • Twitter
  • YouTube
  • Flickr

Get Email from AFL-CIO

Are you a union member?

GET TEXT FROM AFL-CIO

*Message and data rates may apply.

Facebook Favorites

Blogs

Join Us Online