Imagine buying a home and understanding your contract
Okay, it’s not exactly a line from John Lennon’s utopian activist anthem “Imagine,” but it’s a common-sense priority of President Obama’s proposed Consumer Financial Protection Agency that’s certainly worth getting behind. And even if the line isn’t all that musical, the likelihood that the agency could make it so you don’t need a law degree to understand your mortgage – and stamp out predatory lending and forced arbitration in home contracts (read Public Citizen’s report) in the process – should be enough to inspire a song (that is, if you’re anywhere near as musically inclined as the various buskers who ply their trade near our Q St. office).
Watch the above video by Americans for Financial Reform (a coalition including Public Citizen and several other groups) and circulate it widely. We need all the support we can get to make sure the proposed agency regulates home-mortgage lenders so the needs of the home-buying public remain priority number one.