Pierre Richard Augustin believes his 10 Years Tax Free Zones initiatives will not only bring new wealth in Prince George’s County but help stabilize and improve values of real estate for local residents. Pierre Richard Augustin had first hand experiences with predatory lending and understand the challenges that many Prince George’s County residents and homeowners’ American dream that turned into a nightmare as illustrated in the following article entitled:
“Minorities fall victim to predatory lenders by Barbara Reynolds, Posted at 06:58 PM ET, 07/16/2012″:
“Suddenly it dawns on you that you lost your home and your life savings, and your credit rating tanked not by accident, but by design of predatory lenders. I am among those in that profile of black women who played by the rules that were passed down for generations through our families. We graduated from college with advanced degrees; we side-stepped instant spending gratification for prudent savings and investing in real estate. We paid our bills early to keep our credit scores above 700. Now we are at advanced ages, and instead of enjoying the fruit of our labor, our finances are in shambles because of the sub prime housing implosion, and we are forced to find ways to start all over again.”
My message to you, fellow Prince George’s County residents, ”Rest assured that Prince George’s County homeowners and Maryland voters that I understand your pains and frustration in not finding help to really stop an unwarranted foreclosure, dealing with your home underwater or unfair modifications that left you speechless and in a state of disbelief. It is very easy to sympathize with someone that is going to trial and tribulations until it happens to you. I will work with state officials to alleviate the burden by finding innovative ways and solution to help those in needs and preventing such catastrophe from occurring.”
The following is a historical article that pertains to Prince George’s County entitled “The Collapse of Black Wealth, by MONICA POTTS NOVEMBER 21, 2012″. Prince George’s County was a symbol of African American prosperity. Then came the housing crisis. Learn more at http://www.paugustin.com/real_estate
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