US Senators are claiming that they are stepping in to help struggling homeowners fight foreclosures. But if you were to ask bewildered homeowners in our forum, they would tell you a much different story. Help seems to be the farthest thing that people on Main Street are receiving from their state representatives.
For three years the Senate has done virtually nothing to curb the foreclosure crisis. The continued loan modification rhetoric has only served as empty promises as millions of Americans continue to lose their homes across the nation.
However, California Senator Barbara Boxer, D-California says she is doing everything she can to help her constituents save their homes. She told the Merced Sun Star that she knows the foreclosure crisis is taking a very heavy toll on families in California, especially in Merced County.
“When you lose your home, you lose your dreams,” Boxer said. “That’s why I have focused very hard on trying to change the bankruptcy laws so that bankruptcy judges can keep people in their homes. We tried repeatedly, but failed each time because of a filibuster.”
Californians are frustrated that banks aren’t helping them avoid foreclosure and stay in their homes, she said. In the Senate, she added, she’s worked on efforts to help homeowners — through expanding refinancing options, promoting efforts to help homeowners modify their loans and providing additional funding for housing counseling to help at-risk borrowers avoid foreclosure. But too often, the banks are dragging their feet and California’s families aren’t getting relief, Boxer said.
My name is Maurice “Moe” Bedard. I am the founder of America’s #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.