Obama Urged By Commission to Stop Foreclosures

by on Stop Foreclosures

Two major political parties in the administration pointed out that there are a lot of foreclosure complaints during the previous administration.

In a report submitted by former secretary of Housing and Urban Development Henry Cisneros, he said that the structure doesn’t function, and stronger enforcement by HUD is required during the interval until a new department is created. Addressing grave problems of prejudice and house segregation must be done, he added.

The assembly said that the new administration should start an independent department at HUD.

An investigation for 6 months led to expensive lenders opening business, thus “steering” second chance lending to minorities and poor people who ended up in foreclosed homes filings.

Over 4 million files of unfair treatment in housing happen every year, and only about 30,000 cases gets filed at HUD. The number of complaints prosecuted was 88 seven years ago and went down to 31 last year. Investigation delays have also increased.

Other suggestions would be to restore the Fair Housing Council to boost coordination about housing rules with the Department of Justice, bank and housing agencies, and with HDD.

A good recommendation would be to educate people about home rights by developing a HUD interactive program which will run for 5 years.

Other panels’ members comprise of National Association of Realtors ex-president Pat Combs; Howard University School of Law associate dean, Okianer Christian Dark; Gallaudet University president-emeritus, King Jordan I; University of Minnesota law professor, Myron Orfield; and Houston ex-mayor, Gordon Quan.

The committee sponsors are the Lawyers’ Committee for Civil Rights Under Law, The Leadership Conference on Civil Rights Education Fund, the National Fair Housing Alliance, and the NAACP Legal Defense Fund and Educational Fund.

Obama’s administration is very optimistic about the commission’s recommendations and findings and will try working on the crisis in foreclosures.