To: Ed DeMarco, Acting FHFA Director and President Donald Trump
DeMarco: 11 Million US Residents Need Affordable Housing Now!
FHFA and Acting Director Ed DeMarco: Pay back the more than $382 million you have illegally withheld from affordable housing programs by not funding the National Housing Trust Fund.
Why is this important?
You think it's hard raising a toddler? Try doing it without a home!
My name is Danielle Stelluto, and I am a home care worker from the Bronx, New York City who is raising two children in a shelter because I cannot find housing I can afford.
Why should you care? Because I am one of 11 million residents who is still in search of stable, affordable housing. Are you searching too?
While we are searching for a basic living situation, the Federal Housing and Finance Agency (FHFA), under Acting Director Ed DeMarco, has illegally withheld hundreds of millions of dollars from low-income affordable housing. Just in 2012 alone, the FHFA and DeMarco withheld more than $382 million from affordable housing, enough for tens of thousands of families to find and secure housing they can afford. Today I am urging President Obama to immediately work to ensure this funding for affordable housing, either with current Acting Director Ed DeMarco or Nominee Mel Watt.
The FHFA has been violating a 2008 law that mandates that Fannie Mae and Freddie Mac, overseen by FHFA, contribute a portion of their revenue each year to the National Housing Trust Fund- a fund dedicated to creating housing for extremely low-income families. Fannie Mae is posting record profits, $17.2 billion for 2012 alone, but not a cent of those funds has gone to the National Housing Trust Fund.
If fully funded, the affordable housing trust would create millions of low-income affordable rental homes for US residents in need.
With over 11 million families and seniors in need of affordable homes right now, we cannot afford to wait any longer. The FHFA and DeMarco must stop breaking the law!
I ,Danielle Stelluto, a member of the Right to the City Alliance, the National Low Income Housing Coalition and my fellow plaintiffs Angela Samuels and Rossana Torres of Miami have joined forces to file a lawsuit against the FHFA and Acting Director DeMarco to get them to contribute, as legally required, to the National Housing Trust Fund.
Think veterans, seniors, and single moms like me deserve an affordable home? Well, Sign on to join us!