Plans to ease San Francisco’s often overlooked home foreclosure crisis will have to wait a bit longer. The San Francisco Board of Supervisors this week delayed a resolution that would show the city’s “intent” to save underwater mortgages in favor of a resolution that might actually have begin to intervene in underwater mortgages.Read more »
In the first round of what may become a long and protracted legal battle, US Distict Judge Charles Breyer dismissed Wells Fargo's lawsuit against the city of Richmond today, and the reason for dismissal was clear: nothing has happened yet. Read more »
Federal regulators cut a deal with 10 major banks to “speed up housing relief,” major news outlets reported earlier this week – but to exactly no one’s surprise, the amount promised to struggling homeowners is a pittance compared with the overwhelming losses sustained during the foreclosure crisis. Read more »
A few dozen rallied in front of the building that houses a branch of PNC bank July 26, demanding that the bank not foreclose on Yin Wong, an elderly Bayview resident who says the bank is foreclosing on her illegally.Read more »
Alma Sierra has been living in her home at 490 Athens for three years. Sierra, her nine year old son, and two other mothers with their children share a rental unit. They have diligently paid their rent, and her son goes to school across the street. But last year, US Bank foreclosed on the small-time landlords that owned the property- now, the tenants face eviction.Read more »
About 50 gathered for a demonstration April 23 outside the west coast Wells Fargo headquarters on Montgomery and California- and 20 stayed the night- in a plan to “Occupy Wells Fargo” for the bank’s shareholder meeting April 24.
Several organizers from non-profits and community groups aired their complaints about Wells Fargo, including their role in the foreclosure crisis as well as investments in the private prison and coal industries. Read more »
John Avalos introduced a resolution today urging support for homeowners facing foreclosure in San Francisco. The resolution calls for several actions, including suspending all foreclosures until state and federal measures to protect homeowners are in place.
Sponsors of the resolution Avalos, David Chiu, Jane Kim, Eric Mar, and Christina Olague joined a coalition of community organizations to explain the resolution at a press conference.Read more »