This last month has shown America that society will gladly tolerate vigilante violence, provided a vigilante chooses the right target.
underwater mortgages
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My Party Has Lost Its Soul: Former Clinton Aide Laments Victory for Wall Street Democrats
We yearn for a new politics but worry that our democracy, like that Antarctic ice shelf, has reached its tipping point.
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Ahead of the Looming Foreclosure Crisis, Local Governments Are Stepping In
The glut of underwater mortgages needs to be written down to match underlying assets, not just to help homeowners but to revive the economy.
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What U.S. Revolutionary Past Reveals About Richmond Battle For Eminent Domain
Mortgage relief schemes played an important role in our nation’s history as states passed laws to help debtors. Still, foreclosures became increasingly common, and a mini-revolution erupted when angry farmers organized themselves.
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Richmond Expands Battle for Eminent Domain To Save Homeowners From Foreclosure
The eminent domain plan—in which cities like Richmond will forcibly acquire mortgages at discounts, then help homeowners refinance into smaller and more affordable home loans—is gaining mainstream acceptance as a form of principal reduction.
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Richmond, California Mayor Occupies Wall Street
Mayor Gayle McLaughlin is setting an example for how community activists can make big changes by running for local office independent of the two-party system and corporate campaign cash.
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A Film About the Fed, Funded by the Mortgage Crisis
As millions of Americans invested in new homes in the mid 2000's, filmmaker Jim Bruce was already investing in the housing market's implosion.
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Taking Over, Taking Back: Breaking Doors Down to Open Homes Up
The short documentary by filmmakers Jessica Murphy and Elissa Nadworny highlights the work of the Chicago Anti-Eviction Campaign, a coalition of homeowners, renters and houseless people organizing to take over vacant, bank-owned houses.
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In Defiance of Wall Street, Richmond, Calif., Declares Eminent Domain For Underwater Mortgages
In a precedent-setting case, the Richmond City Council voted 4 to 3 to use the city’s power of eminent domain to force banks to sell underwater loans to the city, allowing homeowners to restructure their mortgages.
