According to foreclosure.com there are 2294 foreclosed homes in Santa Clara County currently for sale or going to auction (not counting those in pre-foreclosure or bankruptcy). Bank of America owns more than enough of these homes to be able to house the homeless.
To whom much is given, of them much is expected. Bank of America is the country’s second largest bank and received one of the government’s biggest bailouts. It not only paid zero income taxes last year, it received an IRS refund of $1.9 billion. Its executives received $35.1 billion in bonuses and compensation. Bank of America also has the worst record of loan modifications of all the major banks, and has been justly targeted by community and faith leaders all across the nation for its predatory practices.
Bank of America has a record of donating homes, but unfortunately it has not been done for the purpose of housing the homeless. According to Time Magazine, Bank of America donates homes in order to have them demolished by bulldozers to relieve the “oversupply of homes on the market.” We call on the bank to respond to a higher moral commandment and donate these homes to families who will use them for shelter from the winter weather.
We also join numerous other community organizations in demanding that Bank of America implement an immediate moratorium on further foreclosures, offer principal reduction loan modifications to all families in underwater homes, pay restitution for homeowners and tenants already illegally evicted, and stand trial for its numerous flagrant and repeated violations of the law.
Contact: Rev. Scott Wagers
408 858 0531
Learn more about CHAM by visiting http://cham-
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