Saturday, November 17, 2007

Greedy Mortgage Companies are Preying on Vulnerable Homeownwers

Millions of older Americans are falling prey to abusive mortgage lenders as they draw on hard-earned home equity to cover increasing medical costs or home repairs.

A vote on the Mortgage Reform and Anti-Predatory Lending Act of 2007 is happening THIS WEEK. Tell your Representative to pass a strong bill that safeguards homeowners against abusive lending practices! >>

Older Americans are being hit especially hard by the predatory lending crisis because they're more likely to: have substantial equity in their homes, own older homes that need repairs, and live on fixed incomes.

The mortgage industry is lobbying for a weaker federal bill that overrides state laws.
On behalf of the 2.2 million American families who may face foreclosure, Congress must vote no on any amendment that would override state predatory lending laws!

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