Housing & Bank Accountability

For many years, PACT volunteer grassroots leaders have organized housing initiatives that increased the supply of affordable housing for low-income people and improved protections for renter.  Our accomplishments have included initiating the founding of the City of San Jose's Housing Department and the City's adoption of an inclusionary zoning affordable housing policy. 

Stopping Preventable Foreclosures

Currently, PACT is focused on addressing the foreclosure crisis that is devastating families and neighborhoods in San Jose and across the country.  PACT is working locally and with our colleagues in the PICO National Network for federal policies to get banks to modify loans and keep families in their homes.

See a video of PACT's call to action to the City of San Jose to address blight and crime caused by abandoned, foreclsoured homes.  See other videos about PACT's work to stop preventable foreclosures.

In response to PACT's call to action, the City of San Jose:

• Is enforcing banks' responsibilities to maintain foreclosed properties.

• Set up a foreclosure helpline and has partnered with PACT and other community organizations to hold foreclosure prevention workshops. 

• Updated the investment policy to add banks' record of foreclosure mitigation as a criteria for doing business with the City.
  

Bank Accountability:

The solution to the foreclosure crisis and overall economic crisis hinges on the willingness of banks to do loan modifications, banks have done little to help people. 

PACT has launched a bank accountability and divestment campaign with the PICO National Network and a growing number of partner organizations.  Learn more at Our Money, Our Values.   

PACT is focusing on Bank of America, because despite holding the largest number of bad loans, BofA has the worst record among the nation's big banks of performing loan modifications.  See the video of faith and grassroots leaders sharing why we are saying "Not with our money!" to Bank of America.  

Join our Divestment Campaign!:

• Sign and submit a divestment pledge form.

• Tell others about this campaign and invite them to join us.

Bank of America has refused to modify 97% of its nearly million loans that are at risk of foreclosure.  Faith communities, individuals and institutions across the country are removing their funds from Banks of America to say, "Not with my money."  This campaign is a collective call to stop BofA's irresponsible practices in order to save a million families from losing their homes.  Please join our campaign to put our money where our values are.

“Working families should be able to afford a modest, decent and safe place to live. We don’t think that’s too much to ask. I used to think it was impossible to create real change, but, through PACT, I’ve seen that our biggest hopes can become reality.”

Susan Price-Jang, PACT volunteer leader in the successful effort to get the City involved in the improvement of the troubled Richmond-Menker apartment complex.