SAVE OUR HOMES RALLY on Wall StreetDecember 31, 1969
As the mortgage market continues its decline, millions of homeowners could face foreclosure in the coming year. Unfortunately, a disproportionate number of those homeowners are minorities who were targeted for subprime, predatory loans.
Despite the clear evidence of illegal discrimination in lending practices, the federal agencies that regulate these institutions have done little or nothing to eliminate discrimination in the mortgage market.
Earlier this year, the NAACP filed a historic class action lawsuit against the subprime lending industry for practices that target qualified African Americans for predatory loans.
Although we continue the fight in court, we must press for a solution today that allows people breaking under the financial pressure of these loans to keep their homes.
Predatory lending stymies families’ attempts at wealth building, ruins people’s lives and, given the disproportionate number of minority homeowners who are targeted by predatory lenders, decimates whole communities.
On Monday December 10th, the NAACP and a coalition of other organizations will rally on Wall Street to demand that the lending industry commit to restructuring mortgages for borrowers who are at risk of foreclosure.
With your help we can keep up the fight for economic equality on all fronts -- fighting for homeowners’ rights in court and in Congress, while forcing the mortgage lending industry to do the right thing