Why can't we bail out the homeowners

Who would then pay off the bank loans and everybody would be happy?

Brave New Foundation Asks 1.3 Million Supporters to Urge Congress to Pass 'Helping Families Save Their Homes' Act

LOS ANGELES - Yesterday, Brave New Foundation asked its email list of 1.3 million people to call their Congressional Representatives and ask them to support H.R. 1106, Rep. John Conyers' new bill authorizing judges to modify home loans in bankruptcy proceedings.

As part of its "Fighting For Our Homes" campaign, Brave New Foundation has released a new online documentary video featuring a former subprime lender speaking anonymously about the mortgage sales industry, describing club promoters and drug dealers being hired and trained to deliberately mislead people into taking out loans they could not afford.

Watch the video: http://www.youtube.com/watch?v=KNBqP5j1FZQ

Over the last several weeks, Brave New Foundation's "Fighting For Our Homes" campaign has collected dozens of stories in text and video of people all over the country who are impacted by the housing meltdown. These stories are aggregated at FightingForOurHomes.com, a website that seeks to put a human face on the foreclosure crisis.

Now, the Fighting For Our Homes campaign is encouraging people to take action in support of struggling homeowners.

Congressman John Conyers, the author of the new bill, was recently interviewed by Brave New Foundation about his legislation in a state-of-the-art newscast that appeared exclusively online: http://www.youtube.com/watch?v=g9GTqpTKddk

Prior to that interview, Rep. Marcy Kaptur from Ohio also spoke to Brave New Foundation about the foreclosure crisis, stating that if not repaired soon, the housing crisis "will crush finance in this country for years to come." See video here: http://www.youtube.com/watch?v=JHl_tXvBmO4&feature=channel_page

Contact:

Nathan Havey
310-204-0448 x231
nhavey@bravenewfoundation.org