“Foreclosures are the new F-Word.” So said Regina Davis, executive director of the San Francisco Housing Development Corporation, at an April 29 seminar at SFHDC's office on Third Street that explored ways to prevent more foreclosures in San Francisco, California and beyond.
Since the economic meltdown in 2008, there have been 2,000 foreclosures in San Francisco. And the majority have impacted low-income folks and communities of color, who were sold more predatory loans than other groups, Davis and a panel of foreclosure experts warned And as the recession drags on, another 2,000 foreclosures could be in the works, further destabilizing communities and draining more resources from the city, in terms of lost property values and related tax revenues.
And while deep-pocketed lobbyists have been making it hard to pass laws that would offer at-risk homeowners more protections, homeowner defender groups have decided to target, and now protest against, the group they believe stand directly in the way of equitable reforms: the banks. Read more »