KENNEDY ON THE FORECLOSURE PREVENTION ACT
Today, Senator Edward M. Kennedy released the following statement on the Foreclosure Prevention Act.
"A record number of Americans are now facing mortgage payment delinquencies and possible foreclosures. Losing their home can be the ultimate insult, and that became a very real possibility for millions of families affected by the current housing crisis.
Over the next two years, 36,000 homes in Massachusetts are expected to go into foreclosure, and with 2 million are expected to be foreclosed nationally. The outlook is bleak.
Congress can no longer ignore struggling homeowners across the nation. The Foreclosure Prevention Act that Senator Reid and others have proposed is a sensible solution to many of the problems facing American families in the wake of this crisis. I urge my colleagues to support the housing bill and vote for cloture."