Statement from Jass Stewart Addressing Brockton’s Sky-Rocketing Foreclosure Rate

[Ian David]

Statement from Jass Stewart

Sunday, June 17, 2007

Addressing Brockton’s Sky-Rocketing Foreclosure Rate

As I discussed during the “town hall” meeting I hosted on June 13, I met early last week with the leadership of the Neighborhood Assistance Corporation of America (NACA) to bring relief to the increasing number of families facing foreclosure in Brockton. The Mayor’s Office has provided little leadership on this issue.

On this Father’s Day, I am reminded of how much my family’s joy, identity, and sense of security and stability are connected to our home. In too many cases, there are families in our city who are not able to celebrate Father’s Day with hopeful hearts. They are in a deepening financial struggle to hold on to a home they love, where they have raised their children and invested their hopes for the future.

NACA is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership.

NACA has made the dream of homeownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market.

Brockton, like the rest of the nation, has been hit hard by predatory lending and high foreclosure rates. With access to $10 billion to rewrite – and make right – the mortgages of families facing foreclosure, NACA officials walked me through a clear and accessible application process for families in need. NACA support is immediately available to those facing foreclosure. More than 95% of the individuals who apply are approved.

During my meeting with NACA, I was startled to learn that only 22 Brocktonians are taking advantage of NACA’s services, while 3,500 people in foreclosure proceedings are currently on their list. Brockton is considered by some to have the highest foreclosure rate in the country. NACA presented its services to representatives of the Mayor’s Office several months ago in Brockton. I was disturbed to learn that NACA has not received any follow-up from our city officials, as of the date of this statement. It is critical that residents, civic leaders, and anyone who cares about Brockton’s future demand more from our mayor, whose silence has been deafening on, not only this, but on many of the city’s pressing issues.

Through the town hall meeting, our upcoming email update that services 5,000 members, and our Web site, my campaign is now working to aggressively make the NACA information widely available to everyone in the city who desperately needs to be aware of this crucial service.

I encourage any family that is a victim of predatory lending to please visit our campaign Web site at www.JassStewart.com or contact NACA directly at [phone], www.NACA.com. NACA is providing hope for the future for many families who have given up hope. We must take advantage of this tremendousopportunity for the sake of our citizens and the future of our city.

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