25 Jan Where is Obama’s 90-day Foreclosure Moratorium?
Barack Obama promised a 90-day moratorium on home foreclosures during his campaign for president. Here is a part of the video that Obama played on all of the networks. This portion of the video contains Obama’s campaign promise of a foreclosure freeze for 90 days. I have seen no such proposal from the new administration. Every day they wait, more homeowners face the loss of their homes fromforeclosure. Lenders have not stopped foreclosures and evictions.
I understand that our country faces difficult times and the President of the United States is very busy. However, he doesn’t have to worry about where he is going to live for the next four years. On the other hand, many of my clients are worried about where they are going to live next month.
I am a bankruptcy lawyer. The Durbin bill, introduced this session as S61, and called the Helping Families Save Their Homes In Bankrutpcy Act of 2009. would help many of my clients. However, it would only help homeowners if they file bankruptcy then only after the bill passes, the president signs it and it becomes law. I fear that many homes will be lost before that occurs. Please, President Obama, take some immediate action to keep that promise of a 90 day freeze on home foreclosures. If you do, you will have a better chance at keeping you current accommodations for 8 years rather than 4 years.
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