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Reset Seattle

An alliance of hundreds of individuals and more than 30 faith, community and labor groups dedicated to stopping the foreclosure crisis.

Wednesday, September 24, 2014 – Today the Seattle City Council addresses the housing crisis at 2:00 p.m. They will determine whether programs in Boston and Oregon aimed at helping homeowners can be applied here in Seattle. Three Washington CAN! residents who are homeowners will testify before council members about their battles against foreclosure. The Alliance for a Just Society will present a policy brief that outlines a feasible solution; PRINCIPAL REDUCTION.

The City of Seattle should encourage banks to either agree to pursue principal reduction for underwater homeowners or sell underwater mortgages to pre-approved CDFI’s that have agreed to reset such mortgages.

CLICK HERE TO READ THE POLICY BRIEF

CLICK HERE TO READ MORE ABOUT PRINCIPAL REDUCTION.