Edda Wins!
8/6/10
About a month ago, we brought you the story of Edda Lopez: a disabled widow in the fight of her life with Bank of America.
Bank of America expected Edda Lopez to fall in line with their plans to foreclose on her and her family, failing to recognize a loan payment plan she set up with her former lender, before Bank of America bought her loan.
But, Edda, her church, her neighborhood organization, and people like you who signed the petition to save her home had a different plan.
Bank of America has offered Edda a loan modification and she and her family will be able to keep their home! Watch the video below:
And, Edda has a message for all of us: organize, fight for your home and community. It works.
We know there are over a million more families facing foreclosure from Bank of America alone. Fourteen million home owners currently owe more on their homes than they're worth. We need a solution for all of us. It should not have taken two protests and national attention to keep one Bronx woman in her home.
These banks must do their part to reinvest in our communities and fix the mess they created. Bank regulators need to ensure banks aren't discriminating and selling toxic loans to African-Americans, Latinos and low income borrowers.
Edda and her family have a request for us - tell the bank regulators we need good community reinvestment.
Community reinvestment will ensure that banks like Bank of America clean up the mess that they created. But just as they fought long and hard against financial reform, Big Banks will surely fight to keep from rebuilding their broken homes.



