Petition Closed
Petitioning Congress, The President of the United States

End the Foreclosure Crisis Now


The foreclosure crisis has been made worse by banks and lien holders that refuse to negotiate with home owners. This idea that the bank or other lien holder has nothing at risk by NOT negotiating with the home owners has flooded the market with bank-owned homes and deepened our recession. If the banks and lien holders knew that they would lose the property to the local government if they couldn't sell the foreclosed home in 90 days, they might choose to negotiate rather than risk losing the asset entirely. Negotiating would benefit the home owners, the banks, the investors, and our economy. This would also put local communities in control of existing long-term vacant homes and newly foreclosed properties after 90 days, rather than have homes sit vacant for years without anyone caring for them. (Existing foreclosed properties would have 90 days after this law becomes effective to be sold.)

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