Durbin: Democrats Will Not Give up on America Homeowners

Press Release

Durbin: Democrats Will Not Give up on America Homeowners

United States Senator Dick Durbin (D-IL) released the following statement after Senate Republicans blocked debate on the Foreclosure Prevention Act - a bill which will help hundreds of thousands of homeowners at risk of losing their homes.

"Senate Republicans joined with the Administration and the very people who brought us this mess, the mortgage bankers. Their do-nothing leadership will cause this crisis to spiral farther out of control. It's that kind of bold, innovative attitude which led Herbert Hoover to do nothing in the Great Depression."

"We're not going to give up. Senate Democrats will return to this issue and I guarantee that the mortgage bankers will be in for a fight."

Durbin is the author of a provision in the Foreclosure Prevention Act which will help 600,000 families by giving them the opportunity to negotiate their mortgages in bankruptcy.

The provision is supported by: AARP, ACORN, AFL-CIO, Center for Responsible Lending, Central Illinois Organizing Project (CIOP), Consumer Action, Consumer Federation of America, Consumers Union, Credit Union National Association, DEMOS, International Union, United Auto Workers, Leadership Conference on Civil Rights, National Association for the Advancement of Colored People (NAACP), National Association of Consumer Advocates, National Association of Consumer Bankruptcy Attorneys, National Association of Federal Credit Unions, National Community Reinvestment Coalition, National Consumer Law Center (on behalf of its low-income CLIENTS), National Council of La Raza, National Fair Housing Alliance, National Neighborworks, National Urban League, National Women's Law Center, Opportunity Finance Network, Service Employees International Union (SEIU)

Source