You will see — this family needs a loan modification for this amount, then they can pay. Compared to white Americans, African-Americans are twice as likely to be forced from their homes through bank-pursued eviction… 25% of African-American families… could lose their homes before the crisis is over. Will work up a more in-d This insightful book traces the impact of the housing crisis on Black America. All recounted with historical depth and analytic insight in this most valuable study. Four inspiring stories of African Americans who, with the help of grass-roots organizations, fought back against a totally rigged system are supplemented by damning evidence of the consistently venal behavior of our financial institutions. A brilliant and needed narrative by an insightful and inspiring author. All in all a very good read.
And they have a mass of people that creates a blockade. Herein we are reminded not only of the human toll of this still-unfolding crisis, but the ways in which it stands as part of a longer drama, particularly for Black America, in which neither homeownership nor personhood itself have ever been finally secure, resting as both have on the shifting sands of political fate. Her ask was — I actually just want to buy my house back. Woven throughout Gottesdiener s page-turning narrative are clear explanations of the origins of the crisis, the consequences for housing, and how community organizing and social movements are having national impact. Told through the eyes of four families, A Dream Foreclosed reveals the ongoing human tragedy of the crisis--and the spectacular possibilities that emerge when everyday people challenge the all-powerful corporations that the U.
Gottesdieners effort here is a much needed and welcomed counter-weight. President Bush gave this nice speech at the 2002 Minority Council on Homeownership. She currently works for AlterNet. Key weakness: reluctant to discuss possible solutions and alternatives to housing business as usual. Drawing on the victories, debates, and actions of organizers across the country, A Dream Foreclosed is the story of a nation traumatized by a predatory financial system and the inspiring efforts of people who rise up to organize, defend their homes, and fight back against corporate power and greed. She won the John Hersey Prize at Yale University for a body of journalistic work and was a national finalist for the Norman Mailer Nonfiction Award for her 2009 investigation of girls' wrestling. While profiting from government bailouts, banks have evicted more than ten million Americans from their homes, their life savings, and their dreams.
She offers first person reports on the trauma and tragedies of families who bought homes with deceptive loans offered by hustlers and conmen who knew they would not be able to afford their payments but sold the properties anyway. It is a work both beautiful and terrible that deserves to be read by many. With power and humanity, Laura Gottesdiener bears witness to the ordinary people organizing their communities to challenge the banks and legal system. No need to tarry on which part of the bargain has been fulfilled. As many of the families victimized by bank fraud, predatory loans and other corporate crimes are African American, communities of color have been among the most outspoken and organized in confronting the banks.
Woven throughout Gottesdiener's page-turning narrative are clear explanations of the origins of the crisis, the consequences for housing, and how community organizing and social movements are having national impact. And when the housing bubble burst in 2008, African-Americans started taking it on the chin again. There was no more money to be made from issuing mortgages to white Americans. The footnotes alone are worth the price of the book. The next chapter ex Written by a reporter and activist, this short book follows four case studies of African Americans who have had their housing threatened or taken away as a direct result of the financial crisis.
These are the people who made large fees from subprime loans even when borrowers qualified for lower interest loans. And we can help them pay. They have been successful at almost every single one of them. No need to tarry on which part of the bargain has been fulfilled. And yet they created a system and perpetuated it and sold it into infinity. Sadly, racism reared its ugly head anyway in the form of the subprime mortgages issued predominantly to people of color, regardless of their income. With great humanity and solidarity for those on the front lines of this epic battle, Gottesdiener offers a compelling political analysis, and a way forward in a time of national crisis.
She demonstrates that amidst the greatest housing crisis the nation has seen, the current struggle among African Americans for economic equality is forcing upon our nation a redefinition of American freedom, one that challenges us to reconsider the fundamental flaw in our national security: the market-driven character of housing. It has been hailed by Naomi Klein as riveting and Noam Chomsky as a most valuable study. Told through the eyes of four homeownersa grandmother in Detroit, an entrepreneur in rural North Carolina, a disabled man in Chattanooga, and a mother in Chicago A Dream Foreclosed presents a peoples history of the U. You are never paying your loan off. Using the dreams and aspirations of four families as her point of departure, Laura Gottesdiener narrates a beautifully crafted story about predatory lending, foreclosure abuse, the racial politics of home ownership, and the brave struggles launched by African American communities to keep their dignities and their homes.
And pressure builds on the bank at a national level. As many of the families victimized by bank fraud, predatory loans and other corporate crimes are African American, communities of color have been among the most outspoken and organized in confronting the banks. Negative amortization means that instead of getting smaller, it gets larger. But the enormity of the crime strikes home vividly in the heart-rending accounts of those who are brutally thrown out of their modest homes — for African Americans particularly, almost all they have — then survive in the streets, struggle on, and sometimes even regain something of what was stolen from them thanks to the courageous and inspiring work of the home liberation activists, now reinforced by the Occupy movement. In her heartbreaking book, the author intimately illustrates examples of what is really a mass-scale tragedy in scope by zeroing in on the fates of four families facing and fighting eviction. Table of Contents Contents Foreword by Clarence Lusane Introduction I.