Two ways this could go

Keep Wall Street bankers running scared Let's create the ending we want for the foreclosure and underwater mortgage crisis Let me tell you a story and then have YOU tell us how it should end. Last year, thanks in part to the efforts of Home Defenders, one city, Richmond, California, stood up to Wall Street bankers and created their own program for taking on the foreclosure and underwater mortgage crisis. Watch this video to see what happened next. Richmond - and now other cities - worked out a proposal to use something called Local Principal Reduction to acquire a set of the worst, hardest to fix underwater mortgages and refinance them to restore home equity. If banks refuse to cooperate, cities may use their legal authority of eminent domain to buy the bad mortgages at fair market value and reset them to current value. Some people call it “reverse eminent domain” because it is all about keeping struggling families in their homes. It’s got Wall Street bankers really scared - they are using every trick in the book to try to stop it. This story has two possible endings. In one, we get programs like Richmond’s implemented in every corner of the United States. In that case, Wall Street bankers have to deal with us, rather than dictate to us. Foreclosures go down, families stay in their homes, cities stabilize. We control our economic future. In the other, Wall Street lobbyists scare every city in the country except Richmond from taking bold action to control their futures. Foreclosures go on, struggling families lose their wealth and their homes, and we fight hard for settlements that let bankers go free and don’t match the magnitude of the economic destruction they caused. So we’re asking you make sure the ending YOU want to see happen, happens. Here’s how: Watch the video and then chip in - every single dollar helps - so we can fight for the first ending. If we win, then we win the ability to control our economic future. We’ll be in charge. Wall Street lobbyists are trying desperately not to let this happen, including spreading fear and confusion to stop other cities from taking such a bold move. With your help we can win the first ending to this story. Please visit www.FightingForeclosures.org, watch the video, chip in a few dollars (whatever you can do helps) and spread the word. We can beat the banks. We did it in Richmond. We can do it again. But we absolutely can’t do it without your help. With your help, we control our economic future and keep families in their homes. Without it… well, we’re already going down that road. Click here to write the ending in which people win back their homes and their futures. In Solidarity, Nathan, Shab, Kevin, Jeff, TJ, and the entire Home Defenders League team. www.fightingforeclosures.org