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Even a determined family effort was not enough to keep Jessica Peregrina’s home out of default. “We bought a six-bedroom home in San Pablo for $540,000 to house our large tight-knit family and keep us close together,” says Peregrina. Shortly after they bought the house, their mortgage lender went bankrupt. Another bank bought the mortgage and switched it to an adjustable rate. The house lost 30 percent of its value, while the family’s payment ballooned by $1,200 per month, sending them into foreclosure. “My family has sought help from multiple sources,” says Peregrina. “I looked everywhere for an organization or program to help and I can’t find any.”
Peregrina and many others told their stories at a Housing Crisis Town Hall meeting at St. Mark’s Church in Richmond, California. More than 500 community members and elected officials packed the church for the March 12, 2009 event sponsored by the Richmond Equitable Development Initiative (REDI).