By Momar G. Visaya for Asian Journal | July 23 2009

Options offered to prevent further foreclosures.

In yet another historic moment for the Filipino-American community, a pan-Asian group led by Faith Bautista, executive director of San Diego-based non-profit Mabuhay Alliance, met with top officials of various government offices in an effort to offer alternatives to solve the current housing crisis.Bautista and her group, which also included leaders in the Hispanic and African American communities, met with key leaders in the administration who are working with each other to solve the foreclosure crisis. These community leaders met with Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair, Chairman of the Financial Services Committee Barney Frank, among others.

"I am very happy and privileged to lead this group because this is the first time that a Filipino-American organization is spearheading something as big as this, and we are hoping that they get to listen to what we have to say," Bautista told the Asian Journal.

The group is espousing a "Tenant to Homeowner" program because "none of the government efforts seem to be working."

"Despite the massive reorganization of the Obama administration’s home ownership priorities, the number of foreclosures will continue to accelerate, and no end is in sight as declining home values and increasing unemployment continue unabated," wrote Bautista and Marcia Griffin, president of HomeFree-USA, at American Banker.

Check out the complete article by clicking here.