Over 500 community members joined PACT to urge the U.S. Treasury Department to hold banks accountable for modifying loans to stop the foreclosure crisis that continues to devastate our community and economy. 

The Treasury is responsible for implementing President Obama's Home Affordable Modification Program (HAMP) that promised to help 3-4 million homeowners avoid foreclosure. Fewer than 10% have received permanent loan modifications.  PACT and the PICO National Network are working to change that.

Assembly member Joe Coto reported that the banking industry is fighting us "tooth and nail". 

Faith and community leaders, attorneys and real estate professionals asked Treasury Policy Director Maggiano to take our message back to D.C..: The federal government must do more to hold banks accountable

Treasury Policy Director Laurie Maggiano agreed to:
 
•    Make HAMP more inclusive of homeowners in need of loan modifications. 
•    Get back to PACT in writing within 30 days after taking all the stories, research, and demands for change back to Treasury Secretary Timothy Geithner.

Read More:

Mercury News Editorial Banks must start reducing principal for underwater borrowers

Federal program aimed at financially troubled homeowners is failing:

PACT and PICO are working to keep families in their homes, protect our neighborhoods and rebuild the economy.