Over the next month, homeowners from across the nation will be meeting with their state Attorneys General to demand that they reach a strong settlement with the nation's largest banks in the 50-state investigation into the foreclosure scandal.
These meetings are based on a successful December 14th meeting between Iowa Attorney General Tom Miller - the lead in the investigation - and a group of 100 homeowners from 15 states.
This investigation is the best hope for homeowners and communities since the crisis began.
As homeowners we are demanding principal reduction for millions of families who are at-risk of losing their homes, a new approach to preventing unnecessary foreclosures and criminal penalties for bankers who broke the law. Please join us by signing on to this letter, which we will deliver all 50 state Attorneys General who are part of the investigation.
We will also keep you updated about the progress of our meetings over the next month.
Dear Attorneys General,
We, the undersigned thank you for investigating fraudulent and illegal foreclosure practices by the nation's biggest banks.
Your investigation is the best hope for homeowners and communities since this crisis began. Americans are watching. Our expectations are high that we will see justice for the millions of families who have lost their homes, the millions more who are at risk of foreclosure, and the neighborhoods across the country devastated by falling housing values and vacant properties as a result of widespread mortgage fraud.
The bank executives who committed fraud should be prosecuted. Any settlement needs to go beyond fixing paperwork, fully addressing ongoing abuse and ending the flood of unnecessary foreclosures.
We demand that any overarching settlement agreement contain mandatory loan modification programs, including principal reduction for owner-occupant families facing foreclosure and remedies for those families who have already lost their homes.
Now is the time for bold leadership from the nation's Attorney Generals to hold big banks accountable for the damage they have done to families, communities and the nation's economy.