Underwater homeowners flex their muscle in Election
This year, those who have been affected by the foreclosure crisis are striking back against politicians who have failed to address their plight!!! CPA, along with organizations across the country who make up the New Bottom Line, launched a campaign tellling President Barack Obama and presidential cadidate Mitt Romney, that "Home is where the Votes are."
Underwater homeowners across the country are telling the candidates that unless they address their concerns, such as resetting thousands of underwater homes to their true market value, they will hold their vote!!!
Nationally, there are more than 15 million underwater homes, that are $1.2 trillion underwater. Resetting those mortgages to fair market value would save the average underwater homeowner $543 per month, pumping $104 billion into the national economy every year. This would create 1.5 million jobs nationally. The bold and necessary solutions are clear, and have been advocated for by economists on both ends of the political spectrum.
The new site allows underwater homeowners to sign a petition calling on the candidates reset home mortgages and help Colorado get back on the right track.
CPA encourages you to go to the new site where Colorado homeowners are highlighted prominently in video interviews and coveragage.
Then like the Facebook page here!!!
Principal reduction in Colorado would create 17,000 new jobs and save $1.1 Billion Annually. A 2011 New Bottom Line study found that mortgage write downs would produce a $1.1 billion annual stimulus to the Colorado economy and create 17,000 new jobs. Nationally, principal reduction would create 1.5 million new jobs, Pump $104 Billion into the Economy. There are 16 million underwater homes, worth $2.8 trillion, that are $1.2 trillion underwater across the country. Resetting those mortgages to fair market value would save the average underwaterhomeowner $543 per month, pumping $104 billion into the national economy every year. This would create 1.5 million jobs nationally.