(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA) delivered the following statement after Republicans blocked debate on the Foreclosure Prevention Act, which would provide desperately needed help to families devastated by the mortgage and credit crisis.
“We are in the middle of a crisis, and Republicans are playing political games,” Senator Murray said. “Millions of Americans need help now to keep their homes. Foreclosures devastate families and communities – we have to move quickly if we’re going to get people back on their feet and allow communities to recover.”
“Unfortunately, Republicans today said they would rather stand idly by and do nothing while millions of Americans struggle to pay their bills and keep their homes,” Murray said. “I will continue to push for common-sense solutions to help families – who risk losing everything – get the help they need before it’s too late. I hope Republicans will reconsider their reckless choice.”
The Foreclosure Prevention Act includes provisions that would:
- Provide $200 million to help housing counselors reach out to 500,000 families at risk of foreclosure.
- Change bankruptcy law so that more financially troubled families could keep their homes.
- Change lending laws to prevent more borrowers from accepting loan terms they don’t understand and can’t afford.
- Help communities with the highest foreclosure rates recover from the crisis by providing $4 billion in Community Development Block Grants.
A motion to move to the bill failed by a vote of 48-46.