Reporting Mary Blake
BOSTON (CBS) — On a cold February night in Mattapan Square, several dozen activists held candles and protested outside three homes where eviction notices had been served.
Dave Grossman, Director of the Harvard Legal Aid Bureau, was there. He says it is not in banks’ interests to do this.
“The banks know this themselves. They lose more money when they foreclose, than they would if they were able to work something out with the homeowners,” he said.
James Mahoney, Director of Corporate Communications and Public Policy for Bank of America, concurs.
Yet, the federal program aimed at keeping struggling homeowners in their homes, HAMP, is itself, struggling mightily. A vote in the U.S House on eliminating the program is expected this week.
WBZ NewsRadio 1030′s Mary Blake reports.