posted by admin on Mar 9

Dear Housemember / Senator 

I am writing because I am deeply concerned about the epidemic of home
foreclosures that is devastating families, neighborhoods and our entire
economy. Voluntary actions by loan companies are not sufficient to
address the magnitude of the foreclosure problem, which is projected to
get even worse. Please prevent hundreds of thousands of foreclosures and
provide a vital boost to our economy by supporting the “Foreclosure
Prevention Act of 2008″ (S. 2636).It is hard to understand why current law allows mortgage lenders to go
to bankruptcy court when they get in trouble, but homeowners who are
struggling to keep their homes don’t have that option. A key part of S.
2636 would lift the ban that now prevents homeowners from getting
court-supervised loan modifications. This would not excuse anyone from
paying for their home, but would simply give judges the authority to
alter unaffordable loans to make payments manageable.Allowing loan modifications thro ugh the courts would impose no cost on
the U.S. Treasury, and it would strengthen the entire economy by helping
hundreds of thousands of homeowners avoid foreclosure–foreclosures that
hurt us all.

I understand that the Senate will vote on S. 2636 very soon. This is a
time to stand up for homeowners and support sustainable mortgages.
Please help restore confidence in our economy by giving your full
support to this bill.

Thank you for your consideration.