California IAF Network Challenges CalHFA’s Foreclosure Prevention Plan

While applauding the California Housing Finance Agency for its use of 'principal reduction' in foreclosure prevention, leaders from One LA-IAF, Communities Organized for Relational Power in Action (COPA), Bay Area IAF and Sacramento Valley Organizing Committee (SVOC) protested that the plan was too generous with banks, pledging 50 cents for each dollar of principal forgiveness versus the 18 cents promoted by the California IAF.

Sacramento Bee, CalHFA Principal Writedown Plan is 'Bank Bailout', by Jim Wasserman