Advocacy Groups Urge Bankruptcy Relief for Homeowners

In response to bankruptcy reform measures permitting restructuring or deferment of home mortgages being dropped from the Senate’s foreclosure compromise bill 15 civil rights, consumer and housing groups – Center for Responsible Lending, Leadership Conference on Civil Rights, ACORN, American Federation of Labor and Congress of Industrial Organizations, Consumer Action, Consumer Federation of America, Consumers Union, Lawyers’ Committee for Civil Rights Under Law, NAACP Legal Defense & Educational Fund, Inc., National Association of Consumer Advocates (NACA), National Association of Consumer Bankruptcy Attorneys, National Association of Neighborhoods, National Community Reinvestment Coalition, National Council of La Raza, National Fair Housing Alliance – issued a joint statement condemning the eviscerated bill:

Sadly, as long as policymakers rely on inadequate voluntary measures, we will continue to see foreclosures tear down communities and wipe out the most important source of financial security that most Americans have. Twenty thousand homeowners with subprime loans are losing their homes every week. It is not too late to do the right thing. We urge both the Senate and the House to take fast action to lift the ban that now holds homeowners hostage to voluntary relief from their loan servicers and investors that may never come.”

Call your representatives. Take action at the Center for Responsible Lending.

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1 Comment (+add yours?)

  1. NMHA
    Apr 11, 2009 @ 17:30:16

    You have an excellent website and you are telling the truth which is quite refreshing for a change.

    Thank you for being civic minded and caring about homeowners in distress.

    You have the unique ability to inform the public on important issues and to view the truth. We are exposing the reported conduct of several players in the current housing meltdown crisis with Bank of America being right at the epicenter along with Freddie Mac.

    If you visit our website and read PBS case number 9845 homeowner statement, you will read about the first-hand experiences of a family that Bank of America is about to drop the axe on.

    BOA pitched all those variable rate loans like crack dealers on the street corner and now their canning all those homeowners they sold variable rate loans to as irresponsible owners who need to be purged as “Toxic Assets.”

    Funny, when the money was rolling in all these so-called toxic assets were sweet as candy to the banks and lending institutions.

    BOA has underwritten hundreds if not thousands of loans for Preferred Building Systems of Albuquerque a custom homebuilder who distribute homes throughout the entire state of New Mexico and beyond.

    We are showing how defective these Preferred Building Systems homes are (in our opinions) to protect the public from our homeowner fate.

    The homeowner pain and misery due to Preferred Building Systems we have encountered on a very personal level extends far beyond New Mexico and into several adjoining states, with everyone we have encountered being in the same situation.

    We don’t want anyone else to go through what all of us here have suffered. Now, we are asking for your help in getting this information out to the public.

    Please feel free to pass along our website link as you deem appropriate. Internet Explorer 6.0 or better is required to view our site and other web browsers like Firefox and Safari will not work with our website.

    Please come to our website and render your own professional judgments on all these aforementioned players.

    Protecting our identities becomes critically important especially when going up against multi-billion dollar and multi-million dollar corporations with unlimited financial firepower as you will see for yourself.

    Please note that our webserver has already been attacked twice and had to be completely rebuilt on 2-4-2009.

    Someone is desperately trying to stop the free information and documentation we are publishing from reaching the general public.

    Server attacks on us do not affect you in anyway, however, we may be down when you visit so please keeping coming back until you can view the entire site.

    Please let everyone you know about our site as we here at Justice and Light are willing to sacrifice ourselves and our homeowner equity to help others.

    Keep up the great work and God bless all of you.

    Thank you

    Reply

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