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: Therefore,

    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.