To: Mayor Lee Leffingwell, Austin, TX
Austin’s Homeless Veterans.
Mayor. Leffingwell, good afternoon. I read with interest
last week an online article “Homeless
veteran rate higher in Austin”.
If you will help us, we can assist many Austin area
veterans in their search for a place to live.
As you will note if you visit --
we plan to have a large military personnel jobs fair in
California early next year. While working on this
project, many have pointed out than an equally serious
problem for veterans is their relatively high rate of
homelessness in many of our big cities.
I have a solution that will help many veterans find a
place to call home. Some background: I am a former
mortgage loan officer for Central Trust Bank in
Cincinnati, Ohio. It should be pointed out that I did
this job in the early 1970s while playing pro football
for the Cincinnati Bengals.
There was a problem which existed in the 1970s that
still exist today: unoccupied foreclosed homes.
Back then, a typical three bedroom home in Cincinnati
that was unoccupied for twelve to eighteen months would
lose as much as half of its value. My solution to the
homeless veterans’ problem is to move married veterans
with children into these unoccupied homes.
There are really only six companies I have to convince
to make this work: Citigroup, JP Morgan Chase, Bank of
America, Wells Fargo, Fannie Mae, Freddy Mac. These six
companies alone have lost hundreds of millions of
dollars over the past few years from the deteriorating
value of their unoccupied foreclosed homes.
Mayor, our pitch to these companies is a simple one:
allow homeless veterans to stay in your unoccupied,
foreclosed homes and save millions of dollars.
There is no reason, given the fact that we have
thousands of vacant properties in and around Austin, for
their to be any HOMELESS VETERANS.
this is a plan that will work in all fifty states. Help
us show the rest of the country that we can make it work
Thanks for your time.
Jess Phillips, Jr.
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Homeless Veteran Rate Higher in Austin
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Banks May Have Illegally Foreclosed On 5,000 Members Of
There are over Fourteen-Million Vacant Homes in the U.S.