The Real Estate Lobby is not only spending millions of dollars this November to further the luxury housing boom, but behind the scenes, they are pressuring our elected officials to stop the SF CARES Program up for a vote today at City Hall.
CARES – Community Action to Restore Equity and Stability - is the only program of its kind to finally address some of the over 9.000 Private Label Security (PLS) Loans in SF and protect against the next wave of foreclosures that already decimated a generation of middle class Black and Latino wealth.
PLS loans are highly profitable for investors and terrible for borrowers. If passed, CARES would enable the City to first negotiate with Wall Street Investors and if they are unwilling to settle, take these loans from the investors through eminent domain to modify the loan and keep people in their homes.
Join us to call on our supervisors to stand up for our communities!