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House Rules Committe Agrees to Consider Bankruptcy Modification Amendment Today!

Posted By admin || 10-Dec-2009

Call your representatives now! We need your help! See below for contact information.

The House Rules Committee just minutes ago agreed to allow the bankruptcy modification amendment to be considered on the House floor as an amendment to the broader financial services reform bill AS EARLY AS THIS AFTERNOON!!

H.R. 4173 being offered by Reps. Conyers, Turner, Lofgren, Marshall and others  will help financially distressed families avoid foreclosure. This amendment will empower bankruptcy judges to modify mortgages on primary residences, and help families desperately in need of assistance avoid foreclosure .

This one small change will help stabilize the economy, save homes, and will not cost taxpayers ONE PENNY!

This amendment does not excuse families from paying their mortgage, but it does give bankruptcy judges the authority to modify unaffordable loans for families who are facing foreclosure and cannot obtain a voluntary modification.

The clear objective of the amendment is to encourage the servicers of troubled homeowners to offer aggressive loan modifications that would help keep families in their homes, which, when compared to foreclosure, is more profitable to banks, more secure for the families, and more stable for the surrounding neighborhood and community.

To contact your representative:

1. Phone toll free at: 877.354.4958

2. Put in your zip code

3. When you reach the receptionist:

  • State your name
  • Say that you are a constituent
  • Ask the Representative to vote FOR the Conyers-Turner-Lofgren amendment (#201) to the Financial Services Reform bill.
  • This amendment will cost taxpayers NOTHING and will save millions of homes from foreclosure!!!

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