[Congressional Record (Bound Edition), Volume 155 (2009), Part 21]
[House]
[Page 27983]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 LOAN MODIFICATION SCAM AWARENESS MONTH

  (Ms. LORETTA SANCHEZ of California asked and was given permission to 
address the House for 1 minute and to revise and extend her remarks.)
  Ms. LORETTA SANCHEZ of California. Mr. Speaker, I will not be 
speaking on Rev. Jackson this morning, but I will be submitting 
something for the Record, as I know that my good colleague Mr. Cohen of 
Tennessee will also.
  Actually, today I rise to talk about something I think is very 
important, and I think that Jesse Jackson and others who have worked so 
hard for the community would care about. I rise to recognize National 
Loan Modification Scam Awareness Month which was established to stop 
predators around the country from taking advantage of our constituents 
who are at risk of foreclosure.
  Currently, in California, the foreclosure rate is 10.8 percent. 
Experts predict that nationwide there will be 8.1 million foreclosures 
by the year 2012, and given this environment, loan modification scams 
are proliferating at a rapid pace. Every day, more homeowners are 
falling prey to slick advertising that promises to help them stay in 
their homes if they pay a third party.
  NeighborWorks America and their affiliates around the country are 
working to combat loan modification scams. To do so, they have launched 
a national public education campaign to help homeowners protect 
themselves against loan modification scams, find trusted help, and 
report illegal activity to authorities.
  I urge my colleagues to support National Loan Modification Scam 
Awareness Month.

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