A local group says there may be a program to help stop forecl - Cincinnati News, FOX19-WXIX TV

A local group says there may be a program to help stop foreclosures

CINCINNATI, OH (FOX19) -

Thousands of people have lost their homes to foreclosure but there is a new report that might have a solution.

The report called "The Win-Win Solution" suggests that if banks wrote down all the underwater mortgages to markets value, more than a billion dollars could be pumped into Ohio's Economy.

Grassroots organizations nationwide, including Communities United for Action in Hamilton County, are urging their states' attorney generals who are investigating the banks for foreclosure fraud, to consider this new study.

"You know that American dream that most of us grew up with," Pat Youngblood, St Vivian Catholic Church, "If you work really hard then you'll be able to retain your home and get the things you need for your family? Well, we're watching that dream go down the tube because of greedy, greedy people."

Ohio State Representative Denise Driehaus also supports the idea.

Communities United for Action says "The Win-Win Solution" would create 25,000 jobs.

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