VIDEO: Subprime Mortgages: The Victims of Predatory Lending

VIDEO: The Struggle to Stay: A Window into the Loan Modification Process

More than 657,000 families who are currently facing foreclosure, are in the process of applying for loan modifications. This holds the promise of lower, more affordable monthly mortgage payments. However, many have found that this process is inefficient, complicated, laborious and unfruitful. They find that it is difficult to get their loan modifications approved, and even if they are, their monthly mortgage rates are often increased, doubling or tripling their debt instead of helping them repay it. It is not surprising, then, that almost half of these modified loans re-default within six months of their approval. It is clear that this process needs to be reformed and North Carolina United Power remains committed to holding servicer employees accountable and promoting affordable and equitable loans for these families. NCUP invites you to join their effort keep families in their homes in their fight against foreclosure.

VIDEO: A Call to Arms: Homeowners Fighting Back Against Foreclosure 

Nearly 2.4 million homeowners have lost their homes to foreclosure since the housing market turned south in 2006, and that number is expected to climb to six million before the crisis is over. For those that  are determined to stay in their home, it is important that they act now because inaction can cost a homeowner an opportunity to save their home. Much of what has to be done has to be at the local level. Advocating to your local officials, joining community organizations, and seeking out others going through the process are ways that you can unite for a cause. Though some areas may find that they need to publicize the crisis and educate others about why they should be concerned, the easiest part is taking the first step.