“Our mayor and Common Council president won’t sign some token agreement with Nationstar. We know they love this city as much as we do. We’ve got a major problem here and we believe our mayor and Common Council president understand this. We know Mayor Barrett and President Murphy will demand a financial response commensurate with the magnitude of the problem,” Common Ground Leader, Jennifer O’Hear, was quoted by Fox 6.
On Wednesday, April 1, Common Ground members gathered in City Hall to pray for Mayor Barrett and Common Council President Michael Murphy. Common Ground is urging the city leaders to take bold action in their upcoming meeting with Nationstar representatives. Instead of giving billionaire Bucks owner, Wes Edens, taxpayer money for a new arena, Common Ground believes his company should clean up the mess they have made with their foreclosed properties in Milwaukee.
Common Ground has made the following demands of Nationstar:
1) Nationstar must donate $25 million to the City of Milwaukee Challenge Fund to foster the rehabilitation of foreclosed properties.
2) Nationstar needs to donate $5 million over five years to fund 5-10 housing counselors to go door to door to work with the 1624 families on the delinquent and underwater loans which Nationstar services. The intention would be to prevent further mortgage foreclosures.
3) Nationstar must assign a full-time person on the Nationstar staff to work with Milwaukee housing counselors to restructure mortgages.
To read Fox 6’s coverage, click here.
To read the Milwaukee Journal Sentinel’s coverage, click here.
Find out more about Wes Edens’ delinquent properties in Milwaukee HERE.
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