Pelosi Statement on House Passage of Helping Families Save Their Homes Act

WASHINGTON, May 19 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released
the following statement on the House's passage this afternoon of the Helping
Families Save Their Homes Act by a vote of 367 to 54.

"The Helping Families Save Their Homes Act will help strengthen the housing
market, our economy, and help restore the American Dream of homeownership.

"The timing of this legislation is critical, as Americans are losing their
homes -- usually their single largest investment -- at an average of nearly
every 13 seconds. Both financial institutions and borrowers must work together
to prevent more tragic foreclosures. While the overwhelming majority of
Americans are responsible managers of their household finances, financial
institutions must also act in good faith, lend responsibly, and work to
prevent foreclosures that can result in preventable neighborhood blight.

"I am disappointed that the Senate failed to include crucial mortgage
bankruptcy provisions that would have prevented more foreclosures, but this
legislation is critical to strengthening our economy by stabilizing the
housing market. I look forward to President Obama signing it into law as part
of an overdue effort to bring reforms to our financial system and economically
empower American families once again."

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