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ACORN member featured on ABC’s "World News Tonight"

by Open-Publishing - Sunday 16 September 2007

Trade-Exchange Rates USA

ACORN member featured on ABC’s "World News Tonight"

As the subprime mortgage crisis threatens to displace millions of families from their homes, Bridgeport resident and ACORN member Donna Pearce described her harrowing struggle to keep her own house on a Sept. 10 episode of ABC’s "World News Tonight with Charles Gibson" (view the segment "The Mortgage Mess: Unscrupulous Lenders, Unsuspecting Borrowers").

Pearce said she makes $2,100 per month as a nanny, but New Century said her income was $5,500. "You cannot write a loan like this without knowing that absolutely this person is going to fall behind," she said. Now four months behind on her mortgage payments after the bankrupt New Century Financial falsely inflated her income to secure her a mortgage she couldn’t afford, Pearce is working with ACORN to modify the terms of her loan.

12-09-07 12:10

ACORN, the Association of Community Organizations for Reform Now, is the nation’s largest community organization of low- and moderate-income families, working together for social justice and stronger communities.

 http://www.acorn.org/index.php?id=4...=21673&tx_ttnews[backPid]=2716&cHash=25709fb148]

 http://abcnews.go.com/WN/Story?id=3...