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Hundreds of Iowans Press AG Tom Miller on Foreclosure Suit

January 26, 2011

**FOR IMMEDIATE RELEASE**

Contact: Hugh Espey, Iowa CCI – 515-238-5991

Hundreds of Iowans Press AG Tom Miller on Foreclosure Suit

Americans left wondering whether Miller, the AG’s will hold bankers accountable for foreclosure abuse

Des Moines, IA – Following their December 14th meeting with Iowa Attorney General Tom Miller, who is leading the 50-state investigation of the “foreclosure-gate” scandal, 200 members of Iowa CCI met with him again on Tuesday to continue the push for a settlement that will help millions of Americans stay in their homes. Iowa CCI is part of a coalition of community groups across the country fighting to end the foreclosure crisis.

“Tuesday’s meeting felt a lot different than the meeting in December,” said Iowa CCI Director Hugh Espey, “In our first meeting with AG Miller we felt like we had a champion that was ready to go toe to toe with the big banks. This time we left wondering if the big banks had knocked the wind out of our state’s top law enforcer.”

“In many cases a loan modification is in everybody’s best interest – the homeowner, the investor, servicer and the national economy,” Miller had said in a statement following the December meeting. “… I know it’s worth our best efforts to save as many homes as we can.”

In Tuesday’s meeting The Attorney General was less forthcoming about the intended outcome of the settlement. He did not repeat previous commitments to aim for a settlement that would keep people in their homes, nor to press criminal charges against bank officials where evidence of fraud and criminal wrongdoing is found. The Financial Crisis Commission has recently referred several cases to the states for further criminal investigation.

Foreclosure victims need a meaningful settlement in the foreclosure-gate investigation, which could provide real relief to homeowners in Iowa and across the country where communities have been rocked by foreclosures since Wall Street and the Big Banks crashed our economy. A strong settlement will require banks to dramatically increase the number of loan modifications they are doing; include principal reduction as a first line tool before any foreclosure proceeding is initiated; and include remedies for homeowners who have already lost their homes unlawfully.

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The meeting with Tom Miller is part of a national effort organized by PICO National Network, National People’s Action, SEIU, Alliance of Californians for Community Empowerment, Alliance for a Just Society, and IAF Southeast. For more information, visit www.bankingonaneweconomy.org and http://www.showdowninamerica.org

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