Rebuild the Dream is a group organized under President Obama to help him get re-elected.  Van Jones, the self-identified communist who was forced to resign as the Green Jobs czar, is one of the forces behind this group.

These emails normally sound flowery and have the “We are looking out for you” tone.  This one is mostly the same until you see the Red sentence.  Refinancing for lower interest rates isn’t a bad idea – lowering the mortgage principle because the houses lost value is a terrible idea.  Just as the President demonizes banks, so do these guys.  The banks are blamed  for the housing crash instead of the real culprit:  The Community Reinvestment Act, started in the 1970’s and ramped up in the 80’s and 90’s.  Congress was under the false illusion that everybody has a RIGHT to own a home.  Banks were ordered, prodded, urged, whatever you want to call it, to loan money based on nothing – no credit checks, no employment checks, no extensive application, and no money down.  The loans were sold to Fannie and Freddie – the rest is history.  Housing prices went up when demand went up.  Demand was artificial, so were the prices.  Then the crash.

So, what happens if Rebuild the Dream gets their wish to have principle lowered?  They expect the banks to lower the principle because they believe the banks caused the problems.  Banks WILL NOT loan money for houses in the future.  If they are going to be held accountable, loans will dry up, housing prices will continue to fall because people won’t be buying, builders won’t be building, – the recession continues.

Government interference in the housing market CAUSED the problems.  Interference by government will not solve it!   The entire email is below – links Disabled!  Be informed-inform your friends.  Know what the role of government SHOULD be.  Know what a RIGHT is.  Future posts will expand on this idea.

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Florida could save as much as $2.9 billion. In Ohio, as many as 430,000 families could refinance. In Nevada, people who do so would save $3,170 on average.

And behind each of those numbers is a family who could keep their home, or a job that could be created by money pumped back into local communities.

How much would your state benefit from home mortgage relief? Click below to find out.

Check out our new “Hope for Homeowners: State by State” lookup tool.
 
President Obama is pushing this proposal in a big way. But we need to get the Senate to act before they leave for the August recess — and election season takes over.

Right now, local Rebuild leaders across the country are speaking out about what the housing crash did to families. They’re talking to local press and demanding that Congress deliver real home mortgage relief to communities in their state. Next week, these ‘Rebuilders’ will deliver thousands of your signatures to local senate offices to let them know we expect action before the August recess.

These leaders are calling for a common-sense solution that will save millions of families a lot of money.

We’ve created a nifty web page so you can find out just how much people in YOUR state could save from home mortgage relief, using new research data from Columbia University. So check it out now, and then add your name to the petitions our local leaders will deliver next week.

Find out how Illinois will benefit, and demand action now.

We still need to jail the bankers and make sure underwater homeowners only owe what’s fair... but in the meantime, let’s put money back in the hands of local homeowners by simply helping them reduce interest rates. It’s a no-brainer solution, and should be Step One in fixing America’s home mortgage mess.

As Van said recently about student loans: When we fight, we win. This one’s worth fighting for.

Thanks,
Ian and the rest of the Rebuild the Dream Team

p.s. Want to know more about home mortgage relief? Here are some key facts:
Why is it needed?
Almost half of all homeowners nationwide pay higher interest rates than those available today. But since high interest rates mean high profits, the same banks that caused this mess often make it difficult to refinance.

And that’s especially true for underwater homeowners — responsible people who found a home, secured a mortgage, and made their payments on time, only to find their homes worth less than they paid for them when the bank-inflated bubble burst.

How does it work?
Home mortgage relief removes the obstacles that millions of American homeowners currently face when trying to refinance — like a burdensome application process, eligibility requirements, and expensive appraisals. It also helps underwater homeowners build equity faster, and expands the number of people who have access to this streamlined refinancing program.

Isn’t there already a government refinancing plan?
Yep, it’s called HARP. Think of home mortgage relief as HARP on steroids, and for way more people.

How will this help?
Spending less money on interest would lower monthly payments — helping folks keep their homes and build equity. Others will have more money to spend on goods, services, and local businesses in their communities — which is what economists right now agree is the main thing we need for an economic recovery.

What’s the next step? And why all the rush?
President Obama has thrown his weight behind this proposal. Now, we need the Senate to act — and soon, before they leave for August recess. We only have a few weeks to get this done before Washington’s attention shifts completely to the presidential election.

Could this really pass?
This is such a straightforward solution, you’d like to think so! We haven’t yet seen the same sort of partisan gridlock you get with other solutions, like jailing bankers who broke the law (which we support!).

What’s happening already?
We’re uniting allies to speak with one voice, pushing homeowner stories into the media, calling attention on national TV, and connect with allies in D.C. Best of all, Rebuild the Dream community leaders are organizing their neighborhoods in support.

How can I help?
Add your name to the petition. Call your senator. Share the lookup tool with your friends!