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CA Proposal Would Make Banks Pay for Foreclosures
With High Rate of Foreclosures Expected for 2011, Asm. Budget Chair Blumenfield, Homeowners to Announce Major Legislation Requiring Banks to Share Burden of Foreclosure Costs
Proposal would bring in billions for schools, local services and public safety
Sacramento, CA – With home foreclosures on the rise in California and neighborhoods pummeled by foreclosure-related lost revenue, crime and blight, State Assemblymember Bob Blumenfield (D-San Fernando Valley) will join a new coalition of community organizations to unveil a bold new plan to reduce home foreclosures and provide monetary relief for these communities press conference on Wednesday, March 16 at the State Capitol.
The announcement of major new legislation to address the foreclosure crisis is part of a statewide day of action with rallies being held in front of banks across the state in Sacramento, San Francisco, Los Angeles, San Diego, San Jose, Fresno, and Stockton. Rally participants will announce plans to organize homeowners across the state in support of foreclosure reforms, call on the banking industry to stop harming California communities, and invite banks to join in solutions that stop to our foreclosure crisis.
WHO: Assemblymember Bob Blumenfield (D-San Fernando Valley)
Peggy Mears, Coalition Leader & Member of the ACCE Home Defenders League
WHAT: Unveil legislation requiring banks to share burden of home foreclosure costs
WHEN: Wednesday, March 16, 2011 @ 1:30pm
WHERE: State Capitol, Room 317
The coalition is led by the Home Defenders League (a project of the Alliance of Californians for Community Empowerment), PICO CA (People Improving Communities through Organizing), CRC (California Reinvestment Coalition), California Nurses Association (CNA) and SEIU Locals 721, 521 and 1021.