FOR IMMEDIATE RELEASE
Contact:
Julian Teixeira
(202) 776-1812
jteixeira@nclr.org
WASHINGTON, D.C.—In the midst of the devastating foreclosure crisis, families across the country continue to lose their homes at record rates with no end in sight. NCLR (National Council of La Raza) is asking lawmakers to take aggressive action to prevent the further deterioration of the U.S. economy and ensure that the billions of dollars in resources intended to resolve the foreclosure crisis reach American homeowners.
NCLR today is urging members of the House of Representatives to vote in favor of H.R. 839, the “Home Affordable Modification Program (HAMP) Termination Act of 2011,” and against any proposals to redirect remaining HAMP funds to anything but preventing wrongful foreclosures.
“Millions of Latino families are in the fight of their lives to save their homes from foreclosure,” said Eric Rodriguez, NCLR Vice President, Office of Research, Advocacy and Legislation. “They need real support to save their homes and neighborhoods, and unfortunately, HAMP has fallen seriously short of this goal. It is time to reinvest those resources into more effective solutions. We are calling on Congress to work together on a comprehensive strategy to prevent needless and wrongful foreclosures.”
NCLR supports several alternatives not included in H.R. 839 that will provide borrowers and homeowners with a less bureaucratic and more streamlined process for borrowers and homeowners, which are outlined on NCLR’s blog.
With millions of families likely to face foreclosure over the next two years, this is not a problem that either party can walk away from. NCLR strongly urges members of the House of Representatives take appropriate action to reign in the needless damage being done to American households. This means supporting effective solutions―such as the Neighborhood Stabilization Program and the Hardest-Hit Fund―that have proven to be very effective in addressing the ongoing foreclosure crisis, as well as considering new approaches.
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