Care2 member? Log in

Home Foreclosure Crisis can be Stopped! Support S. 2636 in the Senate Vote

Target: U.S. Senate
Sponsored by: AARP

Thanks to years of reckless and abusive lending practices, foreclosure rates are skyrocketing. This nationwide crisis threatens some of America's most vulnerable citizens, their neighborhoods and entire communities, and our national economy.

The Senate will vote soon on the Foreclosure Prevention Act (S. 2636). If passed, this commonsense solution will allow victims of abusive lending who are facing foreclosures to stay in their homes while they work through the bankruptcy courts to repay the debt.

By passing the Foreclosure Prevention Act, we'll not only be helping over 600,000 families stand up to abusive lending companies, but we'll be helping entire communities facing lower property values, and the economy overall.

Urge your Senator to support S. 2636, the Foreclosure Prevention Act, today.

deadline: Ongoing...
goal: 20,000

33,991
signatures!

Sign Petition! see who signed this

Prefix

*First Name

*Last Name

don’t display my name

*Email

*Address

*City

*State

*Province

*Zip/Postal

*Country

Add your thoughts on why our most vulnerable families need this protection:

	I agree to Care2's terms of service.
	We respect your privacy. Your email address is used to confirm your signature and is NOT displayed publicly.

Dear Senator [Name],

I am supportive of S. 2636, the Foreclosure Prevention Act, and in particular want to emphasize our support for Title IV, which would allow families in bankruptcy to modify their home mortgages through the courts. This provision is a commonsense solution that will help families save their homes without any cost to the U.S. Treasury, while making sure that lenders recover at least what they would have in foreclosure.

Abusive lending practices and slumping real estate markets are causing hundreds of thousands of American families to lose their homes to foreclosure. As devastating as foreclosures have been to date, the worst is yet to come. Foreclosures are expected to accelerate dramatically during 2008, when interest rates are scheduled to rise on a large number of loans.

This nationwide crisis affects not only individual families, but neighborhoods, entire communities, and our national economy. One solution to this serious problem is to give people on the brink of losing their homes more flexibility to restructure their loans in bankruptcy. This solution would not let people "off the hook" in paying their full mortgages; it would simply allow them to work with a judge to figure out how to pay what they owe while staying in their homes. The bankruptcy safety net that permits loan modification to save a yacht, vacation home, commercial real estate or family farm currently is not an option for a family seeking to save a primary residence. In a manner that is both fair and also urgently needed, S. 2636 would eliminate this inequity in the treatment of American homeowners.

It should be understood that the narrowly crafted remedy contained in S. 2636 does not reopen the Bankruptcy Act of 2005. Rather, it addresses 1978 bankruptcy legislation that excludes loans for primary residences from those loans that may be modified in a Chapter 13 bankruptcy. At that time, mortgage loans were nearly all fixed-interest rate instruments with low loan-to-value ratios and were rarely themselves the source of a family's financial distress. This is no longer the case. Preventing the modification of home loans for primary residences makes no sense in an age of subprime exploding ARMs where the mortgage itself causes financial crisis.

While the various voluntary programs that the industry has announced in recent weeks and months are a welcome acknowledgement of the magnitude of the situation, they do nothing to negate the urgent need for this legislation.

[Your comment here]

I applaud you and your colleagues for addressing the foreclosure crisis with the urgency it deserves. I support the court-supervised modification section of S. 2636 and urge speedy passage of this urgently needed reform.

Sincerely,
[Your name]
[Your address]

We signed the “Home Foreclosure Crisis can be Stopped! Support S. 2636 in the Senate Vote” petition!

# 33,900:

7:52 pm PDT, Apr 18, Bonnie Andres, Illinois

# 33,899:

6:09 pm PDT, Apr 18, Name not displayed, Virginia

# 33,898:

4:43 pm PDT, Apr 18, Pauline Havens, Idaho

# 33,897:

1:48 pm PDT, Apr 18, Johanna Operschall, California

# 33,896:

12:27 pm PDT, Apr 18, Sue Hudson, Virginia

# 33,895:

11:15 am PDT, Apr 18, Name not displayed, Oregon

# 33,894:

5:16 am PDT, Apr 18, Karen Kelly, Arizona
It makes no financial sense to throw people out of homes and bail out those who wrote the loans. What good does empty houses do for anyone anywhere? Isn't it reasonable and ethical to help those in the home to have payments they can make, preserve their welfare while having the borrowed money repaid. Isn't that win win for everyone? May God have mercy on us if we allow families to be disenfranchised over something so coarse as the bottom line.

# 33,893:

1:41 am PDT, Apr 18, Jennifer Cooper, Virginia

# 33,892:

1:00 am PDT, Apr 18, Name not displayed, California

# 33,891:

9:34 pm PDT, Apr 17, Stephen Sacks, California

# 33,890:

9:22 pm PDT, Apr 17, Laura Graubart, California

# 33,889:

8:26 pm PDT, Apr 17, Kate Shield, Texas

# 33,888:

10:37 pm PDT, Apr 16, Peggy Hindy, Florida

# 33,887:

9:03 pm PDT, Apr 16, Jarvis Garcia, Idaho

# 33,886:

7:03 pm PDT, Apr 16, Ruth Paredes, Texas

# 33,885:

6:49 pm PDT, Apr 16, Melinda Disque, Pennsylvania

# 33,884:

4:40 pm PDT, Apr 16, Jamie Richards, Massachusetts

# 33,883:

2:19 pm PDT, Apr 16, Jessica Johnson, Virginia

# 33,882:

12:46 pm PDT, Apr 16, Julie Braunlich, Michigan

# 33,881:

12:38 pm PDT, Apr 16, Name not displayed, California
Unfortunately I am a victim of this problem.Will probably lose my home.

# 33,880:

11:39 am PDT, Apr 16, Justin Stepney, North Carolina

# 33,879:

10:01 am PDT, Apr 16, Name not displayed, Idaho

# 33,878:

6:01 am PDT, Apr 16, Name not displayed, Colorado

# 33,877:

1:24 am PDT, Apr 16, Robert Fitzgerald, Minnesota

# 33,876:

11:12 pm PDT, Apr 15, Cassandra Jackson, Arkansas

# 33,875:

9:40 pm PDT, Apr 15, Hamilton Wacker, Argentina

# 33,874:

5:58 pm PDT, Apr 15, Edna Ramos, Texas

# 33,873:

2:18 pm PDT, Apr 15, Lee Woodard, Virginia

# 33,872:

1:45 pm PDT, Apr 15, Elizabeth Kellogg, Oregon

# 33,871:

11:43 am PDT, Apr 15, Eden Kantrowitz, New Jersey

# 33,870:

10:24 am PDT, Apr 15, Sierra Moore, Arizona

# 33,869:

9:09 am PDT, Apr 15, C Dowdall, New York

# 33,868:

7:13 am PDT, Apr 15, Diana Pawelski, Arizona

# 33,867:

6:51 am PDT, Apr 15, Name not displayed, New Jersey
WITH THE DESTRUCTION AND LOSS OF HABITAT FOR WILDLIFE , THE GOVERNMENT IS NOW CAUSING ADDITIONAL LOSS AND HEARTBREAK TO THOSE WHO ARE ALREADY GOING THROUGH TRAUMA. PLEASE PUT A STOP TO THIS INHUMANE TREATMENT NOW!

# 33,866:

6:26 am PDT, Apr 15, Brian Hackney, Florida
The senate should allow people to keep their homes for as long as they can,its not like a pet can go out and put a deposit down on a new home.Loosing an animal because of a foreclosure is wrong.Their has to be a better way.Pets are like people,except pets have unconditional love for you.Would you the senate want to look at your pet,as your leaving in your uhaul,and see the saddness that comes for the owner and the pet.Their has to be a better way.Help the animals they need us.

# 33,865:

9:17 pm PDT, Apr 14, Laura Russell, Washington

# 33,864:

8:05 pm PDT, Apr 14, Wayne & Kathy Dammert, Florida

# 33,863:

7:29 pm PDT, Apr 14, Name not displayed, Maryland

# 33,862:

6:27 pm PDT, Apr 14, Name not displayed, Illinois

# 33,861:

6:26 pm PDT, Apr 14, Martha McBroom, Arizona
Foreclosure ripples all through the neighborhoods lowering property values and it continues rippling on through the economy. Do what it right and just for all concerned to negotiate a settlement that protects families and the community. Thanks.

# 33,860:

6:15 pm PDT, Apr 14, Laura Hastings, Washington
Our pets become like our children. Provisions should be made for them as well as the people who care for them. Predators have created this problem, and it is the will of the people to help them through this trying time. And don't let this awful stuff happen again!!

# 33,859:

5:45 pm PDT, Apr 14, Keith Razack, New York
The loss of the habitat of any creature, bipedal or otherwise, is a tragedy. It must be averted at any cost to those in possession of their stewardship.

# 33,858:

5:36 pm PDT, Apr 14, Name not displayed, Colorado
Those who signed the mortgages in good faith should be helped! Those who knew better and wanted the mansion anyway hopefully learned their lesson! Pets should never be left behind...you would not leave a child behind, would you?

# 33,857:

12:36 pm PDT, Apr 14, Eric Hawes, Rhode Island
kindness to the people... buisness can wait a month

# 33,856:

12:20 pm PDT, Apr 14, Paul Raymond Walsh, New York

# 33,855:

11:23 am PDT, Apr 14, Jackie Kompas, Wisconsin
Our house is now in foreclosure, and while we may be able to redeem it, others are not so fortunate. Please help preserve the American Dream of one's own home.

# 33,854:

10:29 am PDT, Apr 14, Name not displayed, Texas

# 33,853:

10:27 am PDT, Apr 14, Rebecca Savage, Colorado

# 33,852:

9:40 am PDT, Apr 14, Name not displayed, North Dakota
I think they should help the families instead of Wall Street. We are living in a society where the cost of living is rising considerably, but our saleries haven't caught up yet.

# 33,851:

8:46 am PDT, Apr 14, Kathy Brabender, Wisconsin
American families that are losing their homes due to the deliberate trickery perpetrated by the Mortgage Companies, Banks, and Investment Firms are the ones that should be receiving help, not the very culprits that precipitated this national fiasco. It is, after all, taxpayer dollars that are being used to alleviate the problem. Shouldn't it be the citizens themselves that receive the help???????

View Signatures:
|<
<
34,003
33,950
33,900
33,850
33,800
...
150
100
50
>
>|