Menu

Elyse Cherry Quoted in Salon piece, "This election is blinding us to a Wall Street outrage: Inside the media’s negligent response to a foreclosure disaster"

Wednesday, April 20, 2016

David Dayen interviewed BCC CEO Elyse Cherry for his piece in Salon, "This election is blinding us to a Wall Street outrage: Inside the media’s negligent response to a foreclosure disaster," critiquing the Department of Housing and Urban Development (HUD)'s attempts to mediate the effects of the foreclosure crisis in its Distressed Asset Stabilization Program.

Elyse and David suggest that HUD work with homeowners who are seriously delinquent on their payments and identify borrowers whose income can support paying a mortgage under a principal reduction, working with a program like BCC's SUN Initiative to help the homeowner repurchase their home with a mortgage that they can afford. 

Read the article here.