A CONCURRENT RESOLUTION urging the United States Congress
to impose a moratorium on home foreclosures and to establish a
homeowners and bank protection act.
, read first time and referred to Committee on
A CONCURRENT RESOLUTION urging the United States
Congress to impose a moratorium on home foreclosures and to establish
a homeowners and bank protection act.
Whereas, a financial crisis involving home mortgages
debt instruments and the United States banking system
threatens the U.S. economy and that this crisis threatens the
stability of federal and chartered banks;
Whereas, financial investments and home ownership are
the fabric of economic stability and the stability of financial
institutions and that significant numbers of Americans and
Indiana residents are facing foreclosures on their homes;
Whereas, the quality of life in any community can be
directly related to the responsiveness of government and its
ability to meet the needs and expectations of its citizens; and
Whereas, Hoosiers understand the connection and elect
leaders with certain expectations regarding the service they
will provide and the role they will play in their lives and
those elected to serve the citizens of Indiana accept the
privilege of service with the understanding of their
responsibility and the expectation of the community:
SECTION 1. That the Indiana General Assembly urges the United
States Congress to enact legislation that will help struggling U.S.
homeowners to avoid foreclosures or the loss of their home.
SECTION 2. That the Indiana General Assembly urges the United States Congress to take any action they deem appropriate to help ensure affordable monthly home mortgage payments for U.S. homeowners.
SECTION 3. The Secretary of the Senate is hereby directed to transmit a copy of this Resolution to members of the United States Senate and the House of Representatives.