Establishing Foreclosure Prevention Zones: A KPFA Teach-In February 20, 2012

Introduced by Dennis Bernstein, KPFA Flashpoints. CJ Holmes, Real Estate expert, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless clients and agents. CJ is dedicated to uniting property owners to stop foreclosures. Eight million homes are already foreclosed. Another six million are in the pipeline.
A “Teach-In” to explore collaboration to establishing “Foreclosure Prevention Zones.” “We need to come together as communities to demand principal and interest rate reductions for every mortgage that is underwater.”
One in five U.S. foreclosures is in California. From 2008 to 2012, nearly 2 million homeowners in California have lost their homes to foreclosure with a home value loss of over $630 billion. Nation-wide, local governments have lost more than $17 billion in tax revenues due to the housing crisis. An estimated 29% of all homes with mortgages are underwater. One in every four mortgages - a total of 14 million homes may be foreclosed from 2007 to the end of the crisis!
“We must move very quickly and make a huge ruckus,” says speaker CJ Holmes. “If we allow Hedge Funds to get their hands on our homes at these current depressed prices, the billions the 1% already took from us 99% will be peanuts in comparison.

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