Summary and Background
On February 13, 2008, Senate Democrats introduced a legislative package intended to address the national housing crisis and help Americans avoid foreclosure. The Foreclosure Prevention Act of 2008 is an important next step that builds on recently-enacted economic stimulus legislation. The bill would address some of the problems spawned by a housing foreclosure crisis that has threatened America’s hard-working families, their communities, and our local and national economies.
If enacted, theForeclosure Prevention Act of 2008, as amended, would: