Newsflash:
Wednesday, 22 February 2012 07:54

Elizabeth Warren Says Washington Must Act Now To Help Stem The Tide Of Foreclosure

Written by  ElizabethWarren.com

Backs MA Congressmen, Attorney General Coakley Calling on Federal Housing Finance Agency to Take Action To Prevent Unnecessary Foreclosures

BOSTON – It is past time for the Federal Housing Finance Agency (FHFA) to step up and help prevent unnecessary foreclosures in Massachusetts, said Consumer Advocate Elizabeth Warren, reinforcing calls from members of the Massachusetts Congressional delegation and Attorney General Martha Coakley.

Warren, one of the nation’s experts on bankruptcy, credit and housing finance, said she is speaking out to amplify calls from Congress and the Massachusetts Attorney General and to increase pressure on the FHFA to take action.

"The foot-dragging in Washington has stalled economic recovery and has hurt our families," said Warren. "We need a housing policy that fires on all cylinders: principal write-downs, refinancing options, cash for keys, and short sales."

Warren long has advocated for the federal government to take more aggressive actions to stabilize the housing market.  As the principal architect of the Consumer Financial Protection Bureau, a government watchdog agency that protects consumers from the financial tricks and traps hidden in mortgages, credit cards, and other financial products, Warren pushed for greater accountability and oversight of foreclosure practices nationwide.  "We must never forget that this economic crisis began one lousy mortgage at a time," Warren said.

Last week, Massachusetts Attorney General Martha Coakley called for the FHFA to change its position and expand loan modification programs, including principal write-downs, to stabilize the housing market and prevent unnecessary foreclosures. U.S. Reps. Barney Frank, Michael Capuano, and Stephen Lynch have all urged the FHFA to follow the Attorney General’s call for action.

"Foreclosures don’t just harm the families that lose their homes.  They also have powerful effects on whole communities, depressing home values and putting a drag on local economies," said Warren.          

Link to original article: ElizabethWarren.com

Read 5689 times Last modified on Wednesday, 22 February 2012 08:06

PDA In Your State

Join "Countdown to Coverage" Share TPP with your Daily Newspaper

CWA devised a simple plan for which they were uniquely suited: drag TPP out of the shadows and into the light - one city at a time - using a medium they understand intimately: Daily Newspapers!

Two CWA members - Dave Felice in Denver, CO and Madelyn Elder in Portland, OR have started the ball rolling. We just need to keep up the momentum leading up to a big day of petition deliveries in January.

Button-ShareTPPWithNewspaper

Step 1 is to send an Op-Ed to your Daily Newspaper.

Sign the Petition - Sen. Sanders Run as a Democrat in 2016

Button-SandersPetition

Sign the TPP Fast Track Petitions

MoveOn.org Petition - Congress Don't Renew Fast Track

Pulic Citizen Petition - Congress Must Reject Fast Track Authority

MoveOn.org Petition - Stop the Trans Pacific Partnership

CREDO Petition - Stop the Massive Corporate Power Grab

 

Hand Deliver a Letter to your Senators or Representative on the TPP

If your Senator(s) and/or Representative is not currently opposed to Fast Track, they may not completely understand all the implications. Nothing sends a stronger message to a Congressional member than a personal visit to a district office by a voter with a written request. Phone calls and emails are incredibly important but nothing gets attention like a personal visit. Our Educate Congress page has information and a sample letter. Print the letter, sign it, deliver it.

Button-HandDeliver

Lori Wallach on the TPP from PDA Progressive Roundtable

Progressive Roundtable with Reps. Ellison and Pocan and Lori Wallach on TPP

TPP: The Biggest Threat to the Internet You've Probably Never Heard Of