Quote Ali
About Raise the Roof

"The Mortgage Crisis" is one of the top five critical issues facing America today. It has made more headlines than any celebrity or political figure. It is the 800 pound gorilla in America's living room and yet, not nearly enough is being done to address this vexing monumental issue, until now.

Record numbers of second mortgage liens have entered into default status. Estimates place total secondary mortgage debt in the $1 trillion range, with loss rates that could exceed $300 billion by the end of 2012. The overwhelming number of non-performing loans has wreaked havoc on the financial infrastructure of the United States and caused an economic disaster with no relief in sight.

The crisis has caused damage in three domains: personal, societal and systemic. For example:

Personal: Families have had their financial security eliminated as a result of decreasing property values, forcing them into bankruptcy and therefore affecting their ability to save for college educations and retirement.

Societal: Communities are suffering and homeowners' associations are underwater financially and struggling to cover expenses. Properties are in disarray and face decreasing values, municipal budgets are significantly affected by reduced revenue generated from retail sales and ad valorem taxes.

Systemic: The trust between lender and borrower is broken. An increasing number of homeowners have simply given up on trying to pay their mortgage debt. Instead, there has been a marked increase in the hiring attorneys to defend them in bankruptcy court or entering into a strategic default.

Raise the Roof has designed a mechanism to begin to repair all of these issues. Families can begin to rebuild their financial security while banks re-establish trust with the community.