Apr 10 2009
Senate Stalls Much Needed Mortgage Modification Bankruptcy Bill
Mortgage modification bankruptcy bill which is called Helping Families Save Their Home Act has been passed by the House of Representatives but not by the Senate. The bill has been in the Senate for a few months now and it seems that nothing is being done with it. It seems that it is back to good old politics of basically stalling the bill where ever they can if they don’t like it. I don’t know about you but I am really getting tired of how these guys are running our country. It seems like perfect sense to me that if they pass this mortgage modification bill that will give bankruptcy judges the power to modify a mortgage when it is needed. This will give families a last resort to help save their homes. I would much rather help people that I know or that live in my neighborhood than to help some fat wall street guy or some ceo that is already a millionaire. People we need to stand up to this insanity and put our hard earned tax dollars to good use by helping the people that we know.
The Washington Post has claimed that the mortgage modification bill is being slowed by many senatorial republicans. It seems that the financial industry which is opposing the bill has been lobbying the republicans to not pass the bill. Again we have another darn industry creating our legislation and running our country. Wake up folks they have been doing this for years and the only thing they are interested in is making more money for themselves. I am not opposed to many more money we all want that but not at the expense of the American families.
In my view if we pass this mortgage modification bill “Helping Families Save Their Home Act” then we can correct the current imbalance of housing prices and mortgage debt associated with those prices. If we don’t modify these loans now then it is going to take twice as long to get through this mess and put more people on the street. This will not help anyone if this happens. We currently have two houses on our street going through foreclosure. I know I would rather have my kids playing with the kids that used to live in those houses instead of them being empty and owned by a bank. We need to take action now and reset these assets to market conditions. It seems like we don’t even think twice about having the Fed send out billions of dollars to help some bank or company get back on its feet but when we go and try to help the American people directly we get so much push back. This is wrong and what has happen to us as a country? I am tired of our government not doing the right thing. We need to get back to making common sense decisions and help Joe down the street and not Joe the CEO.
So if you not sure how your local senator or house rep is voting on this mortgage modification bill then please look them up by following one of the links below to the House or Senate’s website.
