The House of Representatives to Is Scheduled to Vote on Court-Supervised Loan Modifications This Week

The House of Representatives will vote on whether bankruptcy judges should have the authority to modify mortgages this week, possibly as early as tomorrow (Thursday).  The bill, H.R. 1106, combines several proposals intended to stabilize the housing and financial markets and includes this important measure.

We can’t end the financial crisis without stemming the rising tide of foreclosures.  Court-supervised loan modification is an essential component of an effective and comprehensive plan to meet the challenge.  See this previous post for more info about judicial loan mods, and this PDF for more about H.R. 1106.

AFFIL members are calling Congress today to ask their Representatives to support H.R. 1106 without weakening any of its provisions.  Click here to join us – we’ll provide a phone number, instructions and talking points to make the process easy.  Or, click here to email your Representative, but keep in mind that calls to Members of Congress have a bigger impact than emails.  And thanks.