| Help California's working families avoid home foreclosure! |
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For all workers, home ownership is a cornerstone of economic security. But the rise in predatory mortgage lending and the collapse in the housing market have left many working families in California on the brink of disaster. Whether facing foreclosure or a devastating loss in the value of one's home, California families are among the hardest hit in the nation. Foreclosures in California increased six-fold between 2006 and 2007. AB 1830 (Lieu) would establish new standards to prevent families from being victimized by predatory mortgage lending. It would prohibit some of the most abusive lending practices, such as steering borrowers into risky loans, inserting pre-payment penalties, and making loans without assessing a borrower's ability to re-pay. We cannot allow this foreclosure free-fall to get worse. We must act now to protect the dream of home ownership for millions of California families. Please send a letter and ask your legislator to support AB 1830. Send a letter today, and help protect the homes of all working Californians.
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