What we can do to stop foreclosures

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no-reply@beaubiden.com

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2011-03-18 14:03:16

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Kathleen and Hunter Biden <hbiden@senecaga.com>

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Dear Kathleen and Hunter,

Since 2007, there have been more than 22,000 foreclosures in Delaware. And this year looks like it could be worse than last year.

The only thing more heartbreaking than these statistics are the stories we see in the news and in our communities every day, stories of families and entire neighborhoods devastated by this crisis.

Every economist we have heard from agrees on one thing - that stemming the foreclosure crisis is the best thing we can do to improve the economy. Working with a bipartisan group of General Assembly members, we have introduced a legislative package that will lead to a meaningful mortgage modification process for homeowners in danger of falling into foreclosure. This new process will lead to fewer foreclosures - and a stronger economy.

These measures include the creation of a mediation program to bring homeowners and lenders to the table, steps to ensure that homeowners are given a fair shake before foreclosure proceeds, a crackdown on filing false documents as part of a foreclosure, new consumer protections and requirements for mortgage modification companies, and a new office in my Fraud and Consumer Protection Division that will deal specifically with foreclosures.

You can help, too, by sharing this message with your network on Twitter [http://action.beaubiden.com/twshare-foreclosure] and Facebook [http://action.beaubiden.com/fbshare-foreclosure].

Every statistic and every story make it clear that we have to do everything we can to stem the rising tide of foreclosures in Delaware. But I wouldn't be able to do my part without your support. Thank you for helping me to make a difference.

Beau

P.S. -- Please take just a moment to share this with your friends on Twitter [http://action.beaubiden.com/twshare-foreclosure] and Facebook [http://action.beaubiden.com/fbshare-foreclosure]!

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