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How to Bail Out Main Street

By Amie Fishman, East Bay Housing Organizations History will soon define the ongoing foreclosure crisis as one of the single greatest transfers of wealth in the US from middle and working class communities and communities of color to large financial institutions and wealthy investors and speculators. Instead of homeownership being associated with a hopeful pathway […]

By Kevin Stein & Kristina Bedrossian, California Reinvestment Coalition   Neighborhoods of color are still reeling from the havoc wrought by the foreclosure crisis. The disproportionate number of high-cost subprime and option ARM loans in communities of color led to concentrated foreclosures and destabilization that have effectively re-redlined these communities.   Now, with limited relief […]

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By Steve Dubb, Originally posted on Rooflines a Shelterforce blog. Anchor institutions—a term used to describe public and nonprofit hospitals and universities—are today widely recognized for their role in community economic development. But they have the potential to do a lot more. As Living Ciites President Ben Hecht noted in a blog postthis past January, “Today, the largest economic […]

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On Monday, the American Civil Liberties Union filed a lawsuit against Morgan Stanley in what may become the most important civil rights case in a generation.  If successful, the implications of this suit are profound and the impact could be staggering, both in addressing the damages suffered by devastated communities as a result of predatory […]

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It’s Time for Home Opportunity

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Dramatic developments this month have underscored our nation’s progress, as well as our continuing peril, when it comes to Home Opportunity—the deeply held idea that everyone should have access to an affordable home under fair conditions.  These developments, both positive and negative, should inform the national choices ahead, including in the presidential race. On July […]

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This post is part of an ongoing series based on the National Fair Housing Alliance report, “The Banks Are Back, Our Neighborhoods Are Not,” that examines ongoing discrimination in the marketing and maintenance of bank-owned foreclosed properties. This series is also posted on Shelterforce.org’s blog Rooflines. – We now know that once again, the banks are engaging in practices that […]

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A Continued Pattern of Abuse

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By Liz Ryan Murray, National People’s Action, This post is part of an ongoing series based on the National Fair Housing Alliance report, “The Banks Are Back, Our Neighborhoods Are Not,” that examines ongoing discrimination in the marketing and maintenance of bank-owned foreclosed properties. This series is also posted on Shelterforce.org’s blog Rooflines. — What a difference a generation makes. National […]

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  By Martin Eakes, Think about the most prosperous and stable families you know. They might not be rich, but they’ve been lucky enough to keep their jobs. They are healthy and have health insurance. They live in a safe neighborhood. They have access to high quality schools, they can prepare their children for college, […]

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  Whether or not one believes that the Qualified Residential Mortgage (QRM) should be narrowly defined or more broadly construed is an important question to resolve.  However, a key concern of the civil rights community is that no matter whether QRM risk retention represents a very narrow space so that the standard mortgage falls outside […]

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The American dream of homeownership did not magically emerge after World War II from some invisible hand of the market.  The readily available, low downpayment, thirty-year mortgage that flooded the market with credit in the 40s and 50s was the result of a series of government policies, including those that created the “secondary mortgage market.”  […]

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