[Congressional Record (Bound Edition), Volume 147 (2001), Part 16]
[Extensions of Remarks]
[Page 22389]
[From the U.S. Government Publishing Office, www.gpo.gov]



               AIRLINE WORKER MORTGAGE RELIEF ACT OF 2001

                                 ______
                                 

                           HON. BOBBY L. RUSH

                              of illinois

                    in the house of representatives

                       Tuesday, November 13, 2001

  Mr. RUSH. Mr. Speaker, on September 13, 2001, in response to the 
September 11th tragedy, Secretary Mel Martinez of HUD directed all FHA-
approved lenders to provide a 90-day mortgage forbearance for families 
with FHA insured mortgages who were affected by the recent terrorist 
attacks. ``Affected, borrowers are those individuals who were 
passengers or crew on the four hijacked airliners (American Airlines 11 
and 77, United Airlines 93 and 175), individuals employed on September 
11, 2001, in or near the World Trade Center, or in the Pentagon, and 
individuals whose financial viability was affected by the . . . events 
of [that] day.'' (HUD Mortgage Letter 01-21).
  As evidenced by the $15 billion bail out that followed the events of 
September 11, the effects felt by the airline industry were amongst the 
most immediate and devastating experienced within the corporate world. 
It follows naturally, that the devastation experienced by the airlines 
will ultimately be felt by the 150,000+ employees whose financial 
viability has, or will soon be affected by the ongoing wave of post-
September 11th lay offs. And while the language of HUD Letter 01-21 may 
be read to include airline industry workers, the ambiguity of that 
language leaves open the possibility of denial under the letter. This 
group is simply, which has been so obviously affected by the events of 
September 11th, cannot be forgotten.
  The Airline Mortgage Relief Act of 2001 addresses the ambiguous 
language of HUD Letter 01-21 by explicitly applying the aforementioned 
moratorium to laid off employees of foreign and domestic air carriers 
and laid off employees of manufacturers aircraft used by foreign or 
domestic carriers. The bill also expands for all eligible borrowers, 
the 90-day forbearance to 180 days from enactment; and requires the 
Secretary of HUD to inform mortgagees of the moratorium.
  In light of HUD Letter 01-21, as well as recent Congressional 
concerns over the health of the airline industry, the Airline Worker 
Mortgage Relief Act of 2001 would afford Congress the perfect 
opportunity to give as much attention to unemployed airline industry 
workers, as has been given to their former corporate employers.

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