the predators there that prey on all of us, i surge you to pass this resolution, unanimously, thank you. >> thank you, my name is jenny jordan and i am with the group called wild woman and we have been picketing the bank of america for three years in front of our mission street between 29th and you know, and in another country where i forget now, latin american country where a woman went out every day and is still doing it mourning the dead, you know, and many people were truly affected by this. and it was an actual act of racism. and as a white person, i want to say that is what is out there. and i mean that it comes definitely down, and they went out to get these people, and rip them off.

and they thought that they were going to make millions on it, but it filled and all of the people were punished. and so we have to think about that, that gentleman that said that oh, don't worry about the bonds and things and now i am going to come, and you know and then can you come up and help to fix this? and he said well, we have to look at it, i want to know why the guy did not look at it before. and you are representing the people of this city. you know, and i wonder why the white people can come up together and sue both the city and the banks for racism, and why do i have to live with that? why do i have to be a part of that negative environment and watch people suffer. so just, i think that this is a little thing and i would... and if you have trouble with the banks, please let me know. i will sleep outside for days.

i mean that. you know, people do stuff because they get away with it. we cannot let people get away with ripping off people. and especially racist kind of stuff, we can't do that any more. >> god bless, you thank you for speaking. >> my name is mike brown and i have five addresses right now that are being forclosed between me and my son, 983 holister, 978 holiste, 2142, qisatda, 9, holkins, 21 holkins. you put that down, i say that 12 right there in the south east, okay? and you all, can running scared from these people, we need this joint powers thing if we don't do nothing but let them know that you all mean business to help the people man.

i think that i got a 6.9 percent interest rate with wells fargo and you send the packages in and they don't have this, they don't have that. i can't believe the run around that they give me. you know, and when we go to these mortgages and assistance places i hate to advocate for anybody, but chase is the only one that is not there. why? because they are the coolest one. and they are the ones that has been giving people lower interest rates, and wells, (inaudible) specialized loan services, and nation star, all of them guys, and playing games. you know, i guess that chase had enough and they paid enough, and you know? but we need somebody to assist us, man, and can make these guys, come around. and the only person doing it

now is ace. and i am with them all of the way, so i just wish that you were all hel ygt people because you see what is happening, we are getting thrown aurnd the bus and it was 90,000 of us since 1970 and it is less than 30 now, man that is a tragedy, someone needs to follow a lawsuit, thank you. >> supervisor jim lazaras representing 1500 businesses, the great recession was caused by the subprime loan process in america that got out of control. we resulted in banks and financial institutions going around and the remaining banks being asked to step forward and assume the debts of those organizations. the foreclosures that we have seen in san francisco richmond and throughout the country, have been a terrible problem, no doubt about it. it reminds me of harry truman,

if your neighbor is out of work, it is a recession and if you are out of work it is a depression, that is similar with the foreclosure issue. but we have worked our way out of it in san francisco and i know that it is perhaps not to the same extend in richmond, but in zip codes, 94214, 12, and 34, 2400 private label security loans exist first liens in those zip codes. 30 approximately are under water today because of the rebound in the local real estate values in san francisco, and ten or 12 are not current in san francisco. so, is this a step that we should be taking without understanding the ramifications to the city's financially and legally? i know that supervisor farrell has asked for the city attorney to go into closed session on

tuesday when this may be before you, i urge those reports and opinions, please make them public, the city's residents and the tax payers and the bond holders may be at risk by steps that we could take legislatively. we urge you not to take this step, and not to move forward with this. and as much as we respect what has happened to richmond, they should look for a partner elsewhere. thank you. >> my name is grace (inaudible) and i am an organizer with ace and i have been arguing since it began, and every legislation and every settlement that has come forward has not happened because the banks or the federal government said hey, i want to help the people out and that did not happen, it took a lot of protesting, and it took a lot of threats from the community to divest, and it took a massive amount of

community support and order to get that done, if you want to know what the settlements from all of these lawsuits that you know, jerry brown, they sued wells fargo a couple of years ago, do you want to know the pay out? $148.52, that does not pay the electricity bill. so, settlements don't work, the federal government, i guess to talk about what the mayor's office of housing has come up with, we have mot met with mlh and even though this is a program that we are pushing, we are meeting with them tomorrow. in the last year, foreclosures

there have been 150 and a portion in the bay view you can provide those numbers or you can walk to the assess or's office and the program that he is talking about with the hud counselors and like he said that there is a 25 percent rate of modification, however, these particular loans not necessarily under water, but any pulling, labeled security loan, actually does not qualify for hamp and so none of these people will actually get the principle reduction and so you are coming up against a loan that will be in the reduction that has predatory fees, and is not under water, so not going to get a good return. whether you want them to stay here and actually have stability, that is whether you are going to vote on this resolution or not, and this resolution is not set in stone, it is a resolution to try.

so, if we have supervisors who don't want to support it, you are telling us that you don't want to even try. that is what we are looking for is for our city government to do exactly what they are supposed to do is to protect the people and not corporations and banks, we are people and we are voters and we pay the tax and we are not at this point, probably won't be the contributers to your campaign depending on what the situation is, and we just the people want a fair shot and the seniors who have helped to build the senior city. thank you. >> next speaker, please? >> the city with the exception of a few have done nothing really to protect the citizens of this community.

and i was a part of the imminent domain in the 60 and 70s and i did not see anyone trying to save me from having to move from the residence that i had and it is heart breaking to hear city officials, stand up and talk about the protecting a bunch of banksers that have robbed and raped and robbed a community of its and inheritance for its children and this is a retirement, and i kind of hear jesus saying something, who would not lead the 99 to go to save the one and so to tell me that there is only a few people that need saving, but we would rather have a romance and some kind of relationship with the banks rather than having some real care for the people, it is troubling that with the fact that the african american

community is hemaging even now as i speak and no one is alert enough to want to thank and who do we want to save? do we want to save the banks? we don't know what the impact will be. and well we know what the impact will be, and we know what the impact is and we know what it will continue to be if this city does not try to do something that demonstrates that they really care for the citizens of this city. i am a person that went or is still going to foreclosure, i have what we call a bogus, what do we call that? when you take a man that is 70 years old and you extend his loan for another 20 years and put another 40 or 50,000 dollars in it and tell him that he has got a modification when we know that in the next ten minutes, my back is back up against the wall. thank you. >> thank you so much. >> do the right thing.

>> thank you. >> next speaker, please? >> hello, my name is (inaudible) born and i am a home owner that is caught up in this pls situation. and i did not get there because i didn't pay my mortgage, i am there on a bank, error, they mishandled my loan, two months in a row, without explanation, and then tried to charge me late fees, and everything like that. six years later i am here, five medications and thousands of dollars in tax debt, because of

a bank, error and i recently went into litigation and engaged the bank and obviously the bank bought off of the attorney, and sold the servicing rights to someone else and said that i have nothing else to do with that. i can offer you $2,000, i paid the lawyer $10,000 to take the case, we can give you $2,000, my thing is if you, if you did not do anything wrong why are you offering any anything? and i have to tell you, it was chase, so they not all that cool. thank you very much, next speaker please? >> good afternoon, my name is ken (inaudible) and i reside in

the bay view district, and i am stuck with a loan and they will not do a modification and i don't know why, my credit score is 743 and it seems like i qualify to work with me because i pay the mortgage on time, but they are not going to budge and if we can't get help from you, what are we going to do? i mean in the homes and have to move out? >> i was four closed on two

years ago, the original invester and now, owns my property and they refused, a loan modification and so sun trust mortgage, claim that they were working on modifying my loan. and would i send papers on and it was kept on until my house was forclosed upon and ace at least, has got (inaudible) to postpone my eviction, and right now, it is in limbo, and so i am asking you that please f this too work, the resolution if the city can work with richmond, i will hope that you will pass this resolution and thank you. >> my name is (inaudible) i am

here because i am fighting for my rights. and i work three jobs, (inaudible) i live m my home, and i was victimized during my illness, and my injury and i was victimized and when the buyer came to my home and she wants to kick me out. and i am an ace member, and now my own (inaudible) and i was introduced to a lawyer and helped me, and now i am fighting for my rights, please, just join, and let's join, with us, help, with the seniors, and

join us with the jpa and because in the future, you will be old like me and you will be lucky, and now you are lucky because you are still young but once you get to my age you will (inaudible) and someone will kick you out, how do you feel? how do you feel? maoes, join with us, and thank you very much, please. >> my name is (inaudible) and we managed to stay in the home but we are fighting for the modification for four years and

the last two years were horrible, and we had a lot of the same situations, that you have heard countless people where medicine for blood pressure and etc. and etc., and with the help of ace, a huge, demonstration was put on in front of the bank, and they were embarrassed, and press was there, and tv coverage, the bank called us from 6.5 to 3.6 interest rates, but the missing two years that i had not paid on the advice of one of the groups that i paid at least $10,000 to to try to help us save our home they are never performed on the advice of us, i did not pay the mortgage because it would help us get a modification and that was not true, and so the two years was tacked on to the end of the loan and so the bank is going to come out all right. wells fargo would not work with us on a second. and so, at age 70 i am left with good health and i work 50 to 70 hours a week to try to

pay that mortgage down so that i can perhaps, retire, by the age of 75. and i feel very blessed 11 people live in our home, 6 of our grandchildren live there and i don't know where we would have been we learn in the city, named after saint francis and better follow his example. >> thank you, next speaker please? >> my name is carlin (inaudible) and i am an ace member and my story is no different than my fellow ace members that you have heard. and i concur with mr. donaldson, and the rest of my ace members to urge you to pass this resolution, and thank you. city of richmond. for being a role model. i don't know where, the mayor's office was when i was going through my struggle, and i am

still going through my struggle. and thank you for your support, and not only cultures but the people that have been forced to short sale, they are not counted in these numbers. thank you. >> my name is barbara long and i have worked in the city for years and i know the struggles and today and this moment is a crisis moment and i would ask the three of you, to take this, and take it upon yourselfs to make sure that this passes. the board of supervisors. and fight for us. thank you. >> i have been a resident of san francisco since january of

1945, and i am a (inaudible) son and i have seen a lot of changes in the city and i have seen richmond change and i have seen okay land change and we were not good changes and so i am hoping that you will pass this resolution, and i, i am a member of ace, and i am working with this question, about the bonds money or whatever the money that has come for us loans on these homes and stuff like that, if they were so bad, and the banks would not want them, they would give them to you. and so, that is your collateral is the backing of these homes, that you will take the loan off. and so use a little common sense and i got through my 70 years of life, not from education, but from common sense, and so i think that it is very, very... if you get these homes, that is your collateral and it is that simple, do these people want to stay in these homes, so thank you, and vote yes on it.

thank you. >> good afternoon, supervisors my name is chris write and i am executive director on the committee of jobs and the employers and we encourage you today to consider three things before voting first over the last two years, dozens of cities have been encouraged to use the eminent domain in this way, not a single city has agreed to do so not seattle or chicago and not baltimore and not berkeley not oakland, and just to name a few. even richmond with the private partner and failed to obtain liability insurance and more addressed that the jpa concept is a way to avoid liability and to side step the council vote requirement. and at least one law firm has stated that the cities would be lieible for damages coming from the jpa. and ironically, the times reported this weekend that all three candidates for the richmond mayor, thinks that the

proposal should be scraped. >> seconds proposal comes with the essential cost to enlist the cities and residents. (inaudible) to the progressive policy institute have the plan to reduce the mortgage credit and the higher cost for people buying homes, the impact may extend beyond the mortgage credit and in june, it has increased the cost of a single rate swap by 180,000, average people including the government employees will be impacted by this proposal as many plans and retirement accounts are vested in pos securities and they have even expressed the concerns about this proposal. and finally, the proposal, comes at a potentially great cost will provide the benefits only to the individuals who meet a stiet set of standards and supervisor, avalos, previously, identified three homes at three zip codes and

that might benefit from this program, and but, only 31 of the 2400 personal appeals mortgages in those zip codes are under water. do i still have time? >> no. >> and you could..., and we could extend your time. >> sorry about that. >> and despite the comments that were made earlier, pls mortgage can and have been modified and 53 percent of the mortgages have already received modification and on average, reduced the monthly mortgage payment by 38 percent and they are sympathetic to the stories that we have heard today on the foreclosures but however this program probably does not help most of them. we encourage you not to move forward with this jpa, thank you. >>my name is (inaudible), and i own one of the oldest (inaudible), and i (inaudible)

for myself for five years i was losing my house and my house was (inaudible) and the reason that i am here is... i was mortifid, because the counselors and the supervisors here toll me that the peer pressure to the bank and i was mmodified and i was paying the bank but at the same time i have a son who is veteran, and in the army, and to the army reservists and he is working and he had an accident, and he could not pay the bank for the late, and only late, but at the same time they are not helping the home owners, and you know, to work with the home owners. and the banks is still dragging and they are have been denied because there were three, for

only 1 month and then bank makes a mistake when i pay because we have the same name and both houses are in... (inaudible) and he put my, he put the payment in to his loan. and for that one, and it they will not touch him any more and what i am asking is that the bank should be, work with the only owners. >> my name is cathy (inaudible) and i had little of the angish facing the home owners until i attended the ace, the people came that were devastated from the 2008 recession and i heard their stories and saw their tears and the ace meetings over

the past few meetings they were able to reverse many terrible foreclosure situations. but by no means were we able to reverse all of them. they were hood winked by those with the conditions that would ruin their savings and their lives and hel and this this issue becomes more crucial, since the foreclosure prevention efforts at the state and federal levels have allowed too many under water homes to be ineligible for help and principal reduction and so today's resolution, is an opportunity to correct this situation. and it makes every bit of sense to negotiate a joint powers agreement with richmond california to break new ground together with the reasonable resolution and lastly, with the residential properties, in san francisco, at their highest

market price, and in our history, it would, and if would be wisely cautionary to prepare for the next crash and prevent a lot of broken hearts and neighborhoods.

and our desperation to solve and resolve our individual situations. >> the prospect of being torn from one's community, family, doctors and support systems and friends is simply unattain able for many long time residents and i have known first hand of three suicides as well as other

people at risk of taking their own lives, due to the despair and the displacement and this is bad, and this is bad for san francisco, and this is bad for neighborhoods and it is bad for human beings, and i want to say here, that i am also a real estate professional. every week i have clients come to me to ask who they can call to solve their problems, i direct them to the same situations that i explored for myself and sometimes, they have the out come, and often there is not, and it is like everyone is waiting for the problems to go away, is that what you are doing and what we are doing? and the kind of city that we want to live in? the city where 39 percent of the condos are owned as (inaudible) by foreign entities and by the 1 percent, if you had the opportunity to help, why wouldn't you? i respectfully ask that you support the program,