CHANGER: Communities, Homeowners and Neighbors Gaining Economic Rights

Award Recipients - 2006

Madeline Lamour Holder, Founder

CHANGER (Communities, Homeowners & Neighbors Gaining Economic Rights) is a nonprofit organization that combats abusive mortgage lending practices.  Working with families who have been affected by predatory lending and deed theft  in New York City, CHANGER educates the community about abusive practices mobilizes victimized families and provides referrals to needed social services.

Predatory lending occurs when borrowers unable to obtain loans in the prime loan market look for alternatives.  Sub-prime lenders charge excessive fees that cause debt obligations that borrowers are then unable to repay.  The result is that homeowners lost their homes  Dead theft is another increasingly popular crime that occurs when a real estate company persuades a homeowner in foreclosure proceedings to sign a over poverty under the pretense that It may later be repurchased.  The company then evicts the owner, sells the property at a profit and the homeowner ends up with nothing.

CHANGER offers educational programs about these issues and is a member of New Yorkers for Responsible Lending, a statewide coalition committed to fighting predatory lending practices in the financial services industry through policy reform, education and outreach, research and direct services.  The coalitions’ work had heightened public awareness about this growing local and national problem.


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