Action NC calls for principal reduction outside BofA headquarters

About 20 activists with progressive group Action NC rallied outside Bank of America's headquarters uptown Friday morning, calling for more principal reduction to delinquent homeowners underwater on their mortgages.

The group also released a report that estimates Charlotte families lost more than $1 billion in wealth through foreclosures in 2012. The brunt, the group says, has been borne by minority communities.

Here's community organizer Luis Rodriguez:
Later, Action NC regular Silvia Sanchez of Charlotte told her story of finally getting a loan modification with principal reduction from Bank of America, which she said allowed her to stay in her home:
The group also spoke in support of U.S. Rep. Mel Watt's nomination to be the new head of the Federal Housing Finance Agency. The Charlotte Democrat still must be confirmed. Here's Action NC executive director Pat McCoy with a recap of why the group was out on Friday, and thoughts on Watt: