FOR IMMEDIATE RELEASE
Thurs., August 7, 2008 CONTACT: Alexis Marks
Rep. Doris Matsui Joins
Task Force will prevent fraudulent
lending and assist
“I am committed to finding solutions to the mortgage crisis and preserving the American dream of homeownership. Pooling our local resources together in the Foreclosure Task Force will provide further support during this difficult economy, crack down on mortgage fraud, and hopefully, decrease foreclosure rates,” said Rep. Matsui.
Congresswoman Matsui has been a leading voice in Congress for implementing immediate relief for homeowners at risk of foreclosure, and investing in financial counseling and education services. In July, she voted in favor of the Housing Rescue and Foreclosure Prevention Act (H.R. 3221), a comprehensive measure to address the American mortgage crisis.
Additionally, Congresswoman Matsui introduced the Home Retention and Economic Stabilization Act (H.R. 6076) in the U.S. House of Representatives. This timely and necessary legislation will provide responsible relief to homeowners struggling to find solutions to avoid foreclosure by imposing a nine-month foreclosure “timeout.” Many experts predict that the new Federal Housing Authority’s (FHA) refinance plan that was a part of H.R. 3221 may take many months past the proposed date of October 1, 2008 to become operational and reach full capacity.
Housing Rescue and Foreclosure Prevention Act will assist homeowners in
The Task Force, who had their sixth meeting this morning, is planning on meeting monthly or as often as necessary. During the meeting, they planned to invite to their next meeting representatives from banks that own and manage foreclosed homes to determine best how to work together to prevent consumers from going into foreclosure, and learn how banks are managing foreclosed properties.
For more information on the Foreclosure Task Force visit http://www.sacda.org/community/Foreclosure.htm or contact Kelley Wilson at the District Attorney’s Office at Wilsonke@sacda.org or (916) 874-6722.
Rules Associate & Senior Legislative Assistant
Congresswoman Doris O. Matsui
222 Cannon HOB