Wednesday, February 18, 2009

The media now reports that President Obama Administration will endorse legislation go on the record today endorsing legislation to allow for modification of mortgages in chapter 13 bankruptcy. This change in the bankruptcy law is part of the broader housing/foreclosure package being announced by President Obama in Phoenix today (12:45 p.m. ET).
NACBA leaders will be briefed by Administration officials this afternoon on the package and also will be in discussions with allies on Capitol Hill to discuss specific legislative language and strategies for moving the legislation forward in the short term.
Within the next 24 hours, you will receive a follow up URGENT CALL TO ACTION from NACBA's leadership that will include specific steps for getting involved in the effort and provide all the tools you need to be an effective advocate. I urge you to be on the lookout for that email and to respond.
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