NY1: Bronx Tenants Call For End To Predatory Lending
8/13/10
Angry and fed up, tenants and activists from several Bronx buildings rallied Thursday in front of the Midtown offices of Fannie Mae and Freddie Mac. They say the government mortgage agencies have to stop lending money to bad landlords.
"This entity is called on to protect us and we demand that they do it and we demand that they do it now," said Reverend Doug Cunningham of the New Day United Methodist Church.
The tenants say many landlords are getting inflated private and government mortgages to purchase buildings. But they say the purchase prices are way above the actual values of the buildings. And now, many landlords can't pay the mortgages and maintain the properties.
Read more and watch a video from the protest at NY1.com
