In April 2011 we launched the Foreclosure & Subprime Lending Accountability Campaign because the Prince William area had the highest number of foreclosures in Virginia – more than 16,000 - and had the 26th highest percentage of underwater mortgages in the country with 47.4% of homes underwater.
Over the last 2 years VOICE has organized an unprecedented base of homeowners and faith community members to target financial institutions General Electric, Bank of America, and JP Morgan Chase through direct action organizing.
So far we have $30 million in commitments for VOICE's Prince William Restoration Fund from BofA, GE, & VA Housing Development Authority (VHDA). The fund will support a pilot to rehab 100 abandoned / blighted and develop 1,500 new units of rental housing over the next 15 years in NoVA. Read the summary of VOICE's Foreclosure Campaign Victories.
So far JPMorgan has refused to contribute to the Restoration Fund. In 2014 VOICE is organizing to hold them accountable for their role in the Foreclosure Crisis.