Who are Fannie Mae and Freddie Mac?
They are taxpayer-owned government sponsored entities that originate loans and guarantee home loans that banks and mortgage companies sell to borrowers. We should control them and they should serve the needs of the taxpayers, not the 1%.
1. Principal reduction to real value for all underwater homeowners
2. End all Fannie-Freddie evictions. Accept rent, respect renters’ rights
3. Sell foreclosed property to occupants, non-profits or community-controlled institutions at real value. Not to Investors and Hedge Funds!
4. Turn vacant REO property over to community controlled institutions to create permanent affordable housing for renters, homeless families/individuals, and former homeowners. (don’t bulk sell at steep discounts to Hedge Funds, Big Banks & Investors)
Partial list of participating organizations:
• Right to the City National alliance (RTTC)
• New Road—a 9 member regional coalition that uses the “sword and shield model;” it includes the following RTTC members — City Life/Vida Urbana (CLVU), Springfield No One Leaves (SNOL) and Direct Action for Rights and Equality (DARE) in Providence, RI
• Mid-Hudson No One Leaves – New York, NY
• Causa Justa :: Just Cause – Bay Area, CA
• Miami Workers Center – Miami, FL
• Strategic Actions for a Just Economy – Los Angeles, CA
• Occupy Our Homes – Atlanta, GA
• Alliance for Californians for Community Empowerment – Los