Statement on the President’s Plan to Help Responsible Homeowners and Heal the Housing Market

The President announced yesterday a comprehensive plan to assist at-risk homeowners, renters and neighborhoods recover from the housing crisis. National CAPACD applauds the Administration for prioritizing housing issues critical to our nation's economic recovery and for leadership in focusing the attention, resources and power of so many federal agencies to this cause. "We are very pleased about the expansion of HAMP eligibility to include greater incentives for principal reductions and also the inclusion of $1 billion in mandatory funding in the President's 2013 Budget for the Housing Trust Fund. The trust fund will go a long way to finance development and preservation of affordable rental housing. We look forward to working with the Administration to let AAPI communities know about the Homeowners Bill of Rights and about the relief that may be available through these new initiatives."  more» 

ACTION ALERT: Contact Your State Attorney General Today

Last Friday, the administration made two announcements critical to reviving the housing market. First, President Obama made good on his State of the Union promise and created a new investigative working group, led by New York Attorney General Eric Schneiderman, that would take on the abuses that triggered the housing crisis. Second, the administration made significant changes to HAMP including extending the program through 2013 and providing more incentives to mortgage servicers to offer modifications with principal reduction, and extended these incentives to Fannie Mae and Freddie Mac.  more» 

Civil Rights Organizations Hail Creation of Financial Crimes Task Force & Steps to Stop Foreclosures

Washington, D.C. - Earlier today, the Obama Administration fulfilled a promise made during the State of the Union address, announcing the creation of a new financial crimes task force to investigate those responsible for misconduct contributing to the financial crisis. NCLR (National Council of La Raza), NAACP, National CAPACD (National Coalition for Asian Pacific American Community Development), and the National Urban League (NUL) applaud the administration for taking a strong stand in the name of banking accountability.   more» 

Statement on the State of the Union

"With economic security still beyond reach for millions of families, I am encouraged by the President's commitment to a recovery that emphasizes fairness and responsibility for all Americans," said Lisa Hasegawa, Executive Director for National CAPACD. "The President's proposals are a step in the right direction, but we cannot stop there. Much more needs to be done to address the many challenges that we face as Asian Americans, Native Hawaiians and Pacific Islanders. We look forward to working with the Administration and Congress to ensure that working families and low-income communities are not left behind during this recovery."  more»