The U.S. Senate votes the week of February 25 on SB 2636 which contains a provision allowing bankruptcy judges to modify mortgages secured by a family's home. This provision would make it possible to strip mortgages down to the present value of a home or to modify the terms of adjustable rate mortgages which now threaten the homes of many American families. More about the bill.
The mortgage industry, predictably, opposes allowing any change to the mortgages they've sold to a largely unsuspecting public. Their claim that the passage of the bill would lead to increased home mortgage rates has been rebutted by a university study.
If giving consumers more tools to stop the foreclosure snowball makes sense to you, let your Senators here from you now. Call their office and ask for their support for SB 2636.
Identify and contact your representatives in support of SB 2636
Find your Representative in Congress
Find your United States Senators
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