JUNE 24TH, 2008 | Polis for Congress
FOR IMMEDIATE RELEASE
JUNE 24, 2008
CONTACT: Dayna Hanson Morain
Dayna@polisforcongress.com
Polis Announces Bold Plan to Relieve America’s Credit Crunch, Address Foreclosure Crisis, Stop Abusive Credit Practices
(Boulder, CO) – Today, as the U.S. Senate prepares to vote on a housing rescue plan that would deliver much-needed aid to communities and borrowers across the nation hard-hit by the mortgage crisis, Jared Polis, Democratic candidate for Congress in Colorado’s 2nd District, will discuss his detailed plan to address the “credit crunch” deeply felt by Americans at a roundtable at 7pm tonight at the Thornton Community Building, 2141 E. 95th Avenue.
At the roundtable, Polis will discuss how he will fight to get relief for families facing foreclosure on their homes; push to re-write harsh bankruptcy “reform” laws that punish families; and put an end to some of the credit industry’s most abusive practices.
The Senate legislation, which could come to the floor for a vote as early as today, would provide $300 billion in emergency funding to help save 400,000 failing loans across the country. Adams County, which falls within Polis’ congressional district, holds one of the highest foreclosure rates in the entire country with nearly one in every 170 homes foreclosed on. The emergency funding bill would send $4 billion in aid to communities that rank the highest in foreclosures, provide $180 million in loan counseling and would also attempt to reform mortgage disclosure.
“As I listen to voters across the district, many families have shared their personal stories of suffering and loss from the vicious cycle of debt. It is time that the federal government take strong action to help countless families who have lost their homes to foreclosure here in Colorado, and millions more across our country who are looking at that prospect in the near future,” said Jared Polis.
“We need people in Congress who will be on the side of ordinary families feeling the credit crunch intensely today, who will lead on ending abusive lending practices by credit card companies and payday lenders, exploding mortgage rates, and bankruptcy laws that deny families a second chance. I will bring my business experience and vision to Congress to help families get a fair shake from lenders.”
Polis has had extensive experience in protecting Americans from abusive lenders. He helped create the progressive infrastructure that pushed for needed change in Colorado since 2004, chaired a National Commission on Financial Literacy, and has helped continue the ongoing fight in 2008 with his strong support for organizations fighting the payday lender industry.
To read the full plan, please click here.
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JUNE 24, 2008
CONTACT: Dayna Hanson Morain
Dayna@polisforcongress.com
Polis Announces Bold Plan to Relieve America’s Credit Crunch, Address Foreclosure Crisis, Stop Abusive Credit Practices
(Boulder, CO) – Today, as the U.S. Senate prepares to vote on a housing rescue plan that would deliver much-needed aid to communities and borrowers across the nation hard-hit by the mortgage crisis, Jared Polis, Democratic candidate for Congress in Colorado’s 2nd District, will discuss his detailed plan to address the “credit crunch” deeply felt by Americans at a roundtable at 7pm tonight at the Thornton Community Building, 2141 E. 95th Avenue.
At the roundtable, Polis will discuss how he will fight to get relief for families facing foreclosure on their homes; push to re-write harsh bankruptcy “reform” laws that punish families; and put an end to some of the credit industry’s most abusive practices.
The Senate legislation, which could come to the floor for a vote as early as today, would provide $300 billion in emergency funding to help save 400,000 failing loans across the country. Adams County, which falls within Polis’ congressional district, holds one of the highest foreclosure rates in the entire country with nearly one in every 170 homes foreclosed on. The emergency funding bill would send $4 billion in aid to communities that rank the highest in foreclosures, provide $180 million in loan counseling and would also attempt to reform mortgage disclosure.
“As I listen to voters across the district, many families have shared their personal stories of suffering and loss from the vicious cycle of debt. It is time that the federal government take strong action to help countless families who have lost their homes to foreclosure here in Colorado, and millions more across our country who are looking at that prospect in the near future,” said Jared Polis.
“We need people in Congress who will be on the side of ordinary families feeling the credit crunch intensely today, who will lead on ending abusive lending practices by credit card companies and payday lenders, exploding mortgage rates, and bankruptcy laws that deny families a second chance. I will bring my business experience and vision to Congress to help families get a fair shake from lenders.”
Polis has had extensive experience in protecting Americans from abusive lenders. He helped create the progressive infrastructure that pushed for needed change in Colorado since 2004, chaired a National Commission on Financial Literacy, and has helped continue the ongoing fight in 2008 with his strong support for organizations fighting the payday lender industry.
To read the full plan, please click here.
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Ask Jared a question!
