Journalism in the Public Interest

Video: The Great American Foreclosure Song

Looking to get a handle on the foreclosure crisis, the loan modification fiasco, and the robo-signing scandal? We put it all in a music video.

Looking to get a handle on the foreclosure crisis, the loan modification fiasco, and the robo-signing scandal? We put it all in a music video. We also put it all in an e-book — a compelling story and an indispensable guide to the crisis that we'll be releasing tomorrow. Stay tuned! But for now, sing along:

If you enjoyed this, you may also be into our musical explainers of fracking, super PACs, redistricting and the Gregory Brothers' auto-tuned song about bankers.

The video was produced for us by the folks at Explainer Music. Andrew Bean and David Holmes wrote the music and lyrics. Sharon Shattuck and Krishnan Vasudevan created the animation and design.

Can US callz ‘em Obamavillas now, and FORECLOSE on the Obamavillain in the one at 1600 Pennsylvania, D.C., come November?

Well Done!

Been through the modification hassle and now on the verge of losing my home that i bought 8 years ago and was a major handyman speical so i could live within our means.Broke my butt rebuilding it my self over 6 years time. Both of our vehicles are paid off and we have well over 100.000 miles on each.Been out of work for 3 years now and no luck with finding anything but it is real hard after becoming a whistleblower thinking i would be protected under OSHA 11(c) where i was fired 6 weeks after contacting OSHA.
Well there is a homeless tent city by the base of the Ben Franklin bridge on the camden NJ side i could go i guess.No hope.

I came with my family to East Harlem in NYC in 1981. Bought and developed 2 brownstones in a forbidden territory infested by drugs, debris and red lined by the banks for 30 years. It took us 13 years to finish the renovations and brought it in a silver tray to the Koch Administration for the homeless women population and their children and got a contract for $10M to safeguard these housing units for the City for 20 years, assigning our org. $32.50 per diem while the city paid $110 to wealthy hoteliers for dingy hotel rooms. Thomas Rozinski ex-interim commissioner for the Department of Homeless Services was signing contracts without a signature for millions of dollars. He was fired by the Bloomberg Adm. before he took office in 2001. Rozinski cancelled our contract illegally for a price without giving a chance to cure it. The Green Point Savings Bank sold 4 units for $100,000 and the Ponce Bank sold an entire building for $258,000 to two despicable speculators Abraham Heby and Tal Priel who very quickly took us to court until two Judges Gammerman first,  and Elsner last, passed unto the speculators our hard work and equity built up during a lapse of 21 years in 2001, even though we brought to court $1M commitment letter that the same ex-interim- commissioner of DHS had it in his hands and didn’t even mentioned it in court. Malfeasance at its best! This investment was the retirement funds of 12 people that composed our family. The Judge even had the audacity to send me out of my own office so that they could have a smooth transition. The Bloomberg Administration legal department has cover up this indignity for the last 10 years. Now, more than ever we need the shelters. Our org. spent so far $300,000 in legal fees, defending our territory. We request ProPublica to investigate our case, we placed 162 families in permanent housing.  We are a good non-profit organization, we were in the middle of launching a $25M program of alternative long term care for the children that are chemically lobotomized by psychiatry when this unforgivable anomaly took place, destroying our lives. My son was left with “O” IQ, incontinence of the bowel and the bladder and severe cognitive impairment, 17 years in isolation is taking a toll. Thanks to Rozinski and the Bloomberg Administration, they are are responsible for our horrific torment. You will get a decent donation from us. Kind regards.

I fully appreciate the opinions of people that state things like “if you live outside of your means and enter into a mortgage or contract for a property you can’t afford, then it’s your own stupid fault and a foreclosure is inevitable – although it’s somewhat the banks responsibility also to not be so greedy etc”. I don’t disagree, I think it’s the individuals responsibility to study any contract they get themselves into carefully, and to ensure they will be making payments they can cope with. However, I was made redundant and could no longer pay the bills in full. I’m hard working and struggled to find new work in my area, I received a foreclosure notice and when you’re supporting a family it’s one of the most stressful and sickening experiences to go through. I fortunately stumbled on a little blogger site with an article that recommended a website that could help http://
Blogger site if you’re interested

Catherine Tripp

April 9, 2012, 8:33 p.m.

Excellent job!  Principal Forgiveness NOW!

Very good video, but it left out the government’s complicity in getting the subprime ball rolling.  (Allowing ARMs in 1982, encouraging lending to those who probably shouldn’t own in the ‘90s, Fannie/Freddie/FHLB’s eager participation in the early 2000s, etc.)

This article is part of an ongoing investigation:
Foreclosure Crisis

Foreclosure Crisis: Banks and Government Fail Homeowners

Banks and the government have fallen short in helping homeowners in danger of foreclosure.

The Story So Far

Systemic failures at the country’s banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, and government efforts to limit the damage have fallen short. ProPublica created an unrivaled database of homeowners who have faced foreclosure, opened a Facebook page to encourage homeowners to share their stories, wrote profiles of some of them, and incorporated their experiences into our reporting. We also provided a comprehensive rundown of the numbers behind the crisis.

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