Two major banks announce assistance for underwater Prince William County homeowners at a VOICE event.
Bank of America and JP Morgan Chase executives announced Sunday night that almost 1,000 Prince William County, Manassas and Manassas Park homeowners will qualify for help through the $26 billion National Mortgage Settlement. The announcement came during a packed rally organized by the interfaith group Virginians Organized for Interfaith Community Engagement (VOICE) at First Baptist Church in Manassas. Five banks, including Bank of America and JP Morgan Chase, and the attorneys general of 49 states agreed on the $26 billion settlement in February related to charges of negligent foreclosure practices. Today, residents heard what that settlement means for their own homes and the community. As part of the national settlement, Andrew D. Plepler…
Prince William County area activists continue to work with financial institutions on solving the area's foreclosure crisis. At an event Sunday, Bank of America pledged money to pay for three HUD-certified housing counselors.
Meg Carroll has seen firsthand how foreclosures can bring a once proud subdivision to near desperation. As the community manager of Georgetown South in Manassas, she has seen abandoned homes used for prostitution, vandalism and drug dealing—all because of predatory lending practices of some of the country’s largest financial institutions. Carroll said almost 300 of the 850 homes in the subdivision are now foreclosed. “It is destruction on the outside, and for those of us who can peel back the layer, there is more and it is absolutely horrible to see it,” Carroll said. Community leaders like Carroll got some good news Sunday at an event that VOICE organized at Freedom High School in Woodbridge, when one of these banks pledged money to help …
Nick Whitten
8:07 am on Thursday, June 7, 2012
Sharon again, personal responsibility...you lay it all out there and then put a giant "but" on the end, negating all the facts you so perfectly stated. There is no but, and no surprise its minorities that make up the majority of those getting this "bale out". No matter how you slice it it boils down to, "oh wait, because I had no idea what I was getting into now I can't afford my home, oh well … more ›