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Save Public Housing: Oppose PETRA

This petition was published by Susie Shannon on May 18, 2010

SAVE PUBLIC HOUSING: OPPOSE TRA

We, the undersigned, oppose the Housing and Urban Development (HUD) Department's plan titled "Preservation, Enhancement and Transforming Rental Assistance" which will allow for a mortgage to be taken out against Public Housing through private banks and other private funding interests.

Taking out a mortgage against our public housing places it at risk for foreclosure and jeopardizes public ownership, tenant rights, and long term affordability of the property. Loss of our public housing to banks and other private interests will displace low income tenants and increase homelessness.

Transforming Rental Assistance will also provide permanent mortgage interest income to banks through public property, which is unprecedented in American History.

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