Will The “Blue Dog” Democrats Prevent Your Neighborhood From Recovering From The Foreclosure Crisis?

Virtually everyone is affected by the mortgage crisis.  Whether or not you are having trouble keeping up with your mortgage, you are being hurt by the number of foreclosures going on in your community.  Every foreclosure within a certain distance from your home is lowering the value of your home.  The more foreclosures, the greater the decrease in the value of your home.  

The “Blue Dog” Democrats, are representatives who consider themselves to be fiscally conservative.  They are currently trying to hold up, and possibly block passage of HR 1106, which includes the provision that would allow bankruptcy court judges to modify mortgages for homes where the homeowners can no longer afford the monthly payment on their mortgage. 

Kevin Gipson, a New Orleans Consumer Attorney posted an article http://www.mortgagelawnetwork.com/blue-dog-democrats-and-new-democrat-coalition-delay-homeowners-protection-vote/“> that explained what these “Blue Dog” Democrats were arguing, and why they are wrong.

The truth is that we all will benefit if the judicial modification of mortgages provisions of the bill become law.  It is the only effective means to help end the foreclosure crisis.  The fact that it costs taxpayers $0 makes it hard to understand why members of Congress who considers themselves to be fiscally conservative are not among the bills greatest supporters.

 If you want to help stop the increasing number of foreclosures going on in your neighborhood, let your representatives in Washington know that you want them to support HR 1106.

Related posts:

1. Blue Dog Democrats And New Democrat Coalition Delay Homeowners Protection Vote
2. Bankruptcy Attorneys Come to Washington With a Plan to Fix the Mortgage Foreclosure Crisis
3. Government Response to the Mortgage Crisis