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Senate Passes Kerry Initiatives to Help Struggling Homeowners, Promote Affordable Housing

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Location: Boston, MA


SENATE PASSES KERRY INITIATIVES TO HELP STRUGGLING HOMEOWNERS, PROMOTE AFFORDABLE HOUSING

Provisions will help thousands of Massachusetts homeowners survive declining housing market

Senator John Kerry announced that the Housing and Economic Recovery Act passed the Senate by a vote of 63-5 earlier today. The bill contains four key provisions, introduced by Kerry, which will help thousands of Massachusetts homeowners survive the nation's rapidly declining housing market.

"Foreclosures are devastating families here in Massachusetts each and every day, and this housing package will throw them a lifeline. It will help to reduce the number of foreclosures, increase access to safe and fair mortgage credit for all homebuyers and help create much-needed jobs. It's a good first step and I strongly urge my colleagues in the House and the President to support these important safeguards that will help millions of hard-working Americans get back on their feet," said Senator Kerry.

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