imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Alexander: US Government Should Protect Homeowners

by Stewart A. Alexander Wednesday, Sep. 05, 2007 at 2:43 PM

Stewart A. Alexander, a presidential hopeful with Peace and Freedom Party and Social Party USA, says President Bush and Congress could do more to protect homeowners during this nationwide home mortgage crisis. Alexander has ruled out a federal bail-out of mortgage lenders and believes homeowners need federal protection; he is introducing several steps to ease this national crisis.

Stewart A. Alexander for President

Peace and Freedom Party

Socialist Party USA

September 4, 2007

President Bush recently made it clear that there will be no comprehensive federal program to aid the millions of Americans that are facing foreclosure or have lost their homes. Stewart A. Alexander, a presidential hopeful with Peace and Freedom Party and Social Party USA, says Congress and the president could do more to protect homeowners during this nationwide home mortgage crisis.

US foreclosures have reached near epidemic levels and have touched every corner of the nation. The crisis has hit big cities and small communities; in some communities the foreclosures have hit doubles digits within the past two years. Hit the hardest are cities like Detroit, Cleveland and Las Vegas with many of the sub-prime mortgages being delinquent or are in foreclosure. In California homeowners in San Bernardino, Riverside, Temecula, Stockton, Sacramento and Los Angeles are struggling to hold onto their homes.

In 2006 there were 1.26 million foreclosure filings including defaults notices nationwide; however according to recent data compiled by Realty Trac, the number of foreclosures for 2007 are expected to climb above 2 million.

The home mortgage crisis has hit America’s working class at all income levels and millions of Americans are losing their investments due to risky loans and, in many cases, due to shady lending practices.

During the period from 2004 through 2006 many homeowners took unnecessary risk when lending standards were relaxed; during that period many mortgage providers made bad deals and many homeowners could only see the dangling carrot.

Stewart Alexander has ruled out a federal bail-out of mortgage lenders and believes homeowners need federal protection. Alexander is introducing several steps to ease this national crisis.

First: The federal government must eliminate the balloon payment loans that will threaten the well-being and financial security of millions of American homeowners. Congress must act now to freeze homeowners from being evicted; nearly 3 million will lose their homes this coming year when they are unable to pay increased payments or are unable to refinance.

Second: Homeowners that have been in their homes for less than 36 months will be allowed to vacate their home with a small reimbursement fee, from the mortgage lender, to provide funds for relocation if it can be determined, in a US Federal Court, that the loan was made under fraudulent conditions.

Third: If it is determined that the home loan was made fraudulently, the buyer’s credit will not indicate a bank foreclosure, to help restore the consumers credit rating.

Forth: Homeowners that have purchased homes over 3,500 square-feet, for investment and speculation, would not be protected under these proposed guidelines.

Fifth: The federal government could seize certain banks, mortgage companies and financial institutions that have relaxed professional standards that may have put homeowners and consumers at risk.

Recently Magie Phair, a long time State Central Committee Member with Peace and Freedom Party, provided some thoughts regarding the mortgage lending crisis. The following is Magie’s own words:

When I bought my first house, its 1,150 square-feet sold for 00, came with a second mortgage from the builder/developer, was the cheapest on the market, and took a 0 down payment (which I borrowed) and the first mortgage was at 6.5 percent interest.

Now we should restructure FHA and federal loan policies to support primary loans on houses that are 1500 square-feet or less. Houses have been getting too big. Aaron Spelling had a house built that was 50,000 square-feet! I laughed when his new roof leaked!

Then we should do away with adjustable rate mortgages, always include the taxes and insurance in the mortgage payment and give written documentation of the expected mortgage costs before opening escrow.

Maybe considering city sprawl and too much concrete and blacktop contribute to water shortage and global warming, we should consider emphasizing condos or coops as first housing, requiring all buildings to include a diverse mix of sizes up to five bedrooms; making it easier to include children and older generations in the same home, with lower prices and interest rates. Plus, outdoor play spaces and picnic areas for each building, plus community rooms for exercise, study and entertainment. And Rental housing should be affordable, big enough, with tenant councils for all and community rooms. Magie Phair.

It’s time to bring common sense to the mortgage lending and building industry, and to create affordable housing.

For more information search the Web for: Stewart A. Alexander; Alexander Proposing Home Bank Leasing.

Report this post as:

Listed below are the 10 latest comments of 1 posted about this article.
These comments are anonymously submitted by the website visitors.
Good Mortgage Article on ZNet mous Wednesday, Sep. 05, 2007 at 9:22 PM

Local News

More Pix: "Families Belong Together," Pasadena J02 12:16PM

"Families Belong Together" March, Pasadena J02 12:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 4:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J10 11:58PM

Watch the Debate: Excluded Candidates for Governor of California M30 10:20PM

Change Links June 2018 posted M28 12:41AM

The Montrose Peace Vigil at 12 Years M22 1:01PM

Unity Archive Project M21 2:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 3:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 2:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 1:57PM

California police agencies violate Brown Act (open meetings) M02 1:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 4:47PM

Change Links May 2018 A27 1:40AM

Worker-Owned Car Wash on Vermont Closed A26 10:37PM


lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

More Local News...

Other/Breaking News

Democratic Socialists of America J14 4:57PM

Leonard Peltier Non Violent Native American Political Prisoner since 1970's J14 4:18PM

Paraphysique miscellanées de l'aggiornamento J14 12:54AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Cleanup J13 4:14PM

FBI Investigated LA County Sheriff Baca,Why Not Hank Skinner's Persecution? J13 3:52PM

Updated Partial List Of Famous Vegetarians, Vegans, & Fruitarians J13 2:59PM

The Shortwave Report 07136/18 Listen Globally! J12 4:36PM

Social Policy as Social Infrastructure J12 3:38AM

Vol I: 84 Varieties Of GOP Election Fraud J12 1:50AM

Texas Can Call it An Execution,But It is A State Sponsored Murder of Hank Skinner.. J11 6:48PM

June 2018 Honduras coup update J11 3:35PM

Maria Estrada doubles down on racist support J11 1:40PM

New York Women in Film & Television Announces 2018 NYWIFT Ha Phuong Scholarship Recipients J11 10:14AM

Trapps de la domination, trapps de l'aliénation J11 1:31AM

Please Work For The Defeat Of Brett Kavanaugh And Why J09 8:54PM

Change Links 2018 July posted J09 1:27PM

Transinhumanisme ( transe inhumanisme ) J09 12:44PM

Google, World's Biggest Censor, Was Founded By The CIA J09 10:25AM

For a World Free of Nuclear Risks J09 8:29AM

Corrupt CDC Ignores Meat Fish Recalls J09 4:55AM

The (Temporary) End of Globalization J09 3:03AM

Aternatives to Abortions such as Plan B the pill, condoms and IUD J08 4:03PM

U.S Congressional Legal Minds Know Better Than Allowing Texas To Murder Hank Skinner J08 3:37PM

ACLU in many US states defends in court KKK and American Nazis Sometimes for Money J07 11:28PM

Judge Brett Kavanaugh: 12 Of Many Reasons To Oppose Him J07 9:00AM

Insensibilité engrammée J07 2:37AM

Silver Lining J07 12:21AM

The Shortwave Report 07/06/18 Listen Globally! J05 4:38PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy