On Tuesday, December 14 homeowners from 15 states will be meeting with Iowa Attorney General Tom Miller. Miller is leading a 50-state investigation into the foreclosure scandal.
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 to Miller and the 49 Attorney Generals who are part of the investigation.
We will send a report to those that have signed-on immediately following the meeting.
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.