The Rise of the Corporate Landlord
Wall Street has found another way to make money off of the crisis that they put us in. As homes head into foreclosure Wall Street’s vulture capitalists are swooping in to buy-up the delinquent mortgages and foreclosed
homes. Their agenda is to make money, and so they are pushing struggling homeowners to foreclosure, flipping properties and, in some markets, raising rents that price out area residents.
It’s no surprise that Wall Street vulture capitalists would scheme to further destabilize our communities. It is unacceptable, however, that the U.S. Department of Housing & Urban Development (HUD) is helping this along. HUD’s mission is to “create strong, sustainable and inclusive communities and quality affordable housing for all.” Instead, HUD is selling pools of delinquent mortgages to the highest bidder regardless of their program & its impact on communities.
HUD must reform the DASP program now!
Call HUD Secretary Julian Castro at (202) 708-1112
Tell him: “Stop selling our homes to Wall Street, fix the DASP program.”