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Philadelphia City Council Passes Resolution to Preserve Homeownership

Homeownership and Consumer

Philadelphia City Council Passes Resolution to Preserve Homeownership

Today, Philadelphia City Council passed Resolution No. 160106, calling on the Federal Housing Finance Agency, Freddie Mac, Fannie Mae, and the U.S. Department of Housing and Urban Development to reform their programs for the sale of distressed mortgage notes in order to better protect homeowners from foreclosure and facilitate community redevelopment.

Community Legal Services commends City Council for passing Resolution No. 160106 and for their commitment to supporting the rights of low-income and minority homeowners.

CLS attorney Rachel Labush testified in support of the resolution, which has a goal of preventing mortgage servicers from rushing to foreclosure before giving homeowners a fair chance to save their homes.

Said Labush, “CLS is deeply appreciative of City Council’s effort to preserve homes and prevent the neighborhood blight that stems from foreclosure. National agencies must take a stronger stance to protect homeowners and ensure that mortgage servicers play by the rules. Our clients and others have the ability to make payments and save their homes, if only their mortgage company will work with them. This resolution is an important step towards ensuring fairness for homeowners.”

For more information, please visit: http://clsphila.org/learn-about-issues/testimony-support-city-council-resolution-no-160106

About Community Legal Services, Inc.:

Community Legal Services, Inc. was established by the Philadelphia Bar Association in 1966. Since then, CLS has provided legal services to more than one million low-income Philadelphia residents, representing them in individual cases and class actions, and advocating on their behalf for improved regulations and laws that affect low-income Philadelphians. As the city's largest provider of free legal services, CLS assists more than 11,600 of Philadelphia’s poorest residents with their legal problems each year. For more information, contact 215-981-3700 or visit www.clsphila.org.

 

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Date: 
02/11/2016