Fannie Mae and Freddie Mac own 7 million of the 16 million underwater mortgages in the United States, yet refuse to help struggling homeowners stay in their homes or take common-sense steps to solve the housing crisis. We demand:
- Principal reduction to real value for all underwater homeowners
- End all Fannie-Freddie evictions. Accept rent. And respect renters’ rights.
- Sell foreclosed property to occupants or non-profits at real value. Not to Investors and Hedge Funds!
- Turn vacant REO property over to community controlled entities/institutions (don’t bulk sell at steep discounts to Hedge Funds, Big Banks & Investors) in order to convert properties to long term affordable housing accessible to renters, homeless families/individuals, and former homeowners.