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Uploaded on Feb 21, 2012
Part Two- Question and Answer
The Foreclosure Crisis: A KPFA-FLASHPOINTS Workshop & Teach-in on Establishing Foreclosure Prevention Zones Monday, February 20, 7 to 9 pm in the Fellowship Hall —Berkeley, CA
Speaker CJ Holmes, is real estate expert who has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless clients and agents. CJ is dedicated to uniting property owners to stop foreclosures. Eight million homes are already foreclosed. Another six million are in the pipeline. One in five U.S. foreclosures is in California. Nation-wide, local governments have lost more than $17 billion in tax revenues due to the housing crisis. An estimated 29% of all homes with mortgages are underwater. "We need to come together as communities to demand principal and interest rate reductions for every mortgage that is underwater... We must move very quickly and make a huge ruckus," says speaker CJ Holmes. "If we allow Hedge Funds to get their hands on our homes at these current depressed prices, the billions the 1% already took from us 99% will be peanuts in comparison. & Fighting Fraudulent Bank Foreclosures.