Buchanan Helps Homeowners with Chinese Drywall Avoid Foreclosure


Supports Bill to Encourage Temporary Forbearance

Washington, DC – December 3, 2009 – (RealEstateRama) — Congressman Vern Buchanan (FL-13) voted for legislation today to help Florida homeowners suffering from toxic Chinese drywall avoid foreclosure.  Buchanan is an original cosponsor of H. Con. Res. 197, which l passed the House  419 to 1.  The bill would encourage banks and mortgage servicers to provide impacted homeowners with temporary forbearance on their mortgage payments.

“Many of my constituents have been forced to leave their homes and pay rent in addition to paying their mortgage,” said Buchanan.  “This bill would provide them with some financial relief and help them avoid foreclosure.”

Forbearance is sometimes given to borrowers with temporary financial problems.

“Some homeowners have been successful in applying for forbearance, but not all lenders have been willing to cooperate,” noted Buchanan.   “This measure will give my constituents more leverage when working with lenders to put a temporary hold on their monthly payments.”

The U.S. Consumer Product Safety Commission reported last month that defective Chinese drywall is causing significant damage to Florida homes and posing serious health threats to people living in impacted homes.

Media Contact:
Sally Tibbetts 941.951.6643


Florida RealEstateRama is an Internet based Real Estate News and Press Release distributor chanel of RealEstateRama for Florida Real Estate publishing community.

RealEstateRama staff editor manage to selection and verify the real estate news for State of Florida.


Previous articleHouse Passes Chinese Drywall Resolution
Next articleIBHS Announces Leadership Transitions for 2010