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FOR IMMEDIATE RELEASE Contact:
April 10, 2013 Camila Gallardo
(305) 573-7329
(305) 215-4259 cell
cgallardo@nclr.org
DENVER, COLO.—On Thursday, April 11, NCLR (National Council of La Raza), the NAACP, Del Norte Neighborhood Development Corporation and community leaders will join together at the State Capitol at 2:30 p.m. CT for a press conference to call on the Colorado State legislature to pass HB13-1249, the “Colorado Housing Stabilization and Mortgage Accountability Act.”
The bill would require banks to first make a determination on whether homeowners qualify for loan modifications before beginning foreclosure proceedings. In addition, new provisions under the proposed law would hold attorneys accountable when attesting to an entity’s legal right to foreclose on a home. The proposal would also provide homeowners with the ability to challenge a lender or loan servicer in court to prove that a debt is in fact owed.
Latino and Black families have been disproportionately affected by predatory lending practices and the foreclosure crisis. Between 2007 and 2010, Latinos lost 43.5 percent of their assets and Blacks lost 27.1 percent of their assets, while Whites lost just 6.7 percent. HB13-1249 is a critical piece of legislation that would significantly curtail many of the fraudulent practices that led to the housing meltdown and put in place protections for families struggling to stay in their homes.
The press conference is scheduled to take place as the House Committee on Business, Labor, Economic and Workforce Development begins discussing the impact of the proposed law.
MEDIA ADVISORY
WHAT: Press conference in support of the “Colorado Housing Stabilization and Mortgage Accountability Act”
WHO: Jesus Altamirano, Regional Coordinator, NCLR
Juan Carlos Vasquez, Homeownership Counselor, Del Norte Neighborhood Development Corporation
James Johnson, State Conference Political Action Director, NAACP Denver Branch
WHEN: Thursday, April 11, 2013, 2:30 p.m. CT
WHERE: West side of the State Capitol
For further information or questions, or to schedule an interview, contact Camila Gallardo, Associate Director, Communications, at cgallardo@nclr.org or (305) 573-7329.
NCLR—the largest national Hispanic civil rights and advocacy organization in the United States—works to improve opportunities for Hispanic Americans. For more information on NCLR, please visit www.nclr.org or follow along on Facebook and Twitter.
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