Thread: Dick Durbin replied to my email; let me share it with you

Dick Durbin replied to my email; let me share it with you.

I sent my Senators, Dick Durbin, Barick Obama, and my House Rep Rahm Emanuel basically the same email yesterday. It was not a canned letter from NumbersUSA but I just wanted to get something off my chest. I told them (I don’t remember 100% , but it was something like this);

"I am against any bailout out for these people that didn’t get a good deal on their home mortgage. Besides over the years I almost lost my house twice, once when I was laid off so my wages could be undercut by (H-2B Visas) people, and then again when by position was outsourced to India, and NO ONE HELPED ME! But I made it on my own.

This will most likely be jammed down our throats, so at least make it a temporary government loan that MUST be paid back. And by no means, NOT ONE ILLEGAL ALIEN CAN QUALIFLY for these loans."

Here is Dick Durbin’s reply;
April 3, 2008

Mr. Xxx Xxxxxx
123 Xxxx Ave
Xxxxxx, IL 601xx

Dear Mr. Xxxxxx:

Thank you for your message regarding home mortgage foreclosures. I appreciate hearing from you and understand your concerns.

Home ownership is a pillar of our economy and an integral part of the American dream, but the subprime crisis has placed millions of families at risk of foreclosure. While subprime mortgages have made homeownership possible for many borrowers with poor credit, low income, or little savings, they also have trapped many homeowners in unsustainable mortgages.

Although most lenders are fair and reputable, some subprime lenders have taken advantage of consumers by offering loans on unclear or deceptive terms. These predatory loans frequently come with a "teaser" interest rate that increases after an introductory period, often without the borrower's knowledge. According to the Center for Responsible Lending, more than two million households in the subprime market either have lost their homes to foreclosure or hold subprime mortgages that will fail over the next several years.

The effects of this crisis reach beyond those families who are facing foreclosure. The Center for Responsible Lending has forecast that homeowners living near foreclosed properties will see their property values decrease by an average of $5,000. In addition, the U.S. Conference of Mayors recently predicted that the foreclosure crisis will reduce consumer spending and tax revenue, slow the growth of the U.S. economy, and lead to the creation of 524,000 fewer jobs in the next year.

The recently introduced Foreclosure Prevention Act of 2008 (S. 2636) contains language from the Helping Families Save Their Homes in Bankruptcy Act (S. 2136), legislation I introduced in 2007. This measure would allow bankruptcy judges to modify the terms of mortgage loans on a principal residence for homeowners who meet strict income and expense criteria. This step is already allowed for mortgages on vacation homes and family farms.

Under my bill, bankruptcy courts would be able to modify the terms of mortgages on primary residences in order to help families and lenders prevent foreclosures that benefit no one. These courts would be able to change the terms of a mortgage so that a family can continue to make payments and lenders can continue to profit. By expanding the role bankruptcy courts already play in changing the terms of mortgages on vacation homes and family farms, my approach would help those facing foreclosure without expanding bureaucracy and without costing the taxpayers a penny.

I will keep your thoughts in mind as Congress considers this issue in the future. Thank you again for your message. Please feel free to keep in touch.
Sincerely,
Richard J. Durbin
United States Senator

RJD/jc

P.S. If you are ever visiting Washington, please feel free to join Senator Obama and me at our weekly constituent coffee. When the Senate is in session, we provide coffee and donuts every Thursday at 8:30 a.m. as we hear what is on the minds of Illinoisans and respond to your questions. We would welcome your participation. Please call my D.C. office for more details.

Too much !
The coffee and doughhnuts on us suckers ,haha!

We wil be remembered in history as the dumbest generation of all time .

Isn't he the one who called our troops murders before they were even tried [ Haditha ,I think it was ] ?

Maybe we can go to a black panther and NOI party after we leave them and donate to the anti-American church of racist afterwards .

Well, why aren't people aware of what kinds of loans they are signing...there is no excuse for it. Did they think they were going to get a permanent free ride? I believe that is a big part of the problem in the USA, everyone wanting a free ride. NO such thing, someone will pay.

If folks are too dumb to read what they are signing, they need to be required to let their own attorney and realtor explain it and have the buyer sign off on it.

I am not surprised about the dumbing down of Americans and their lack of common sense in any area...look at them going ape over Obama.


But why is this everyone else's problem. Many of us struggle with loans too.

The loan industry and banking industry needs to be cleaned up...make them foot the bill for this, not government. It can be their fine, for being crooks.

Originally Posted by NOamNASTY

Too much !
The coffee and doughhnuts on us suckers ,haha!

We wil be remembered in history as the dumbest generation of all time .

Isn't he the one who called our troops murders before they were even tried [ Haditha ,I think it was ] ?

Maybe we can go to a black panther and NOI party after we leave them and donate to the anti-American church of racist afterwards .

Yes something like that!

Actually he is more known for being the author of the DREAM ACT, which will give illegal kids free college!

We have him in our sights for this November – he is up for re-election – I believe he has been in office for over 37 years. (Illinois must dump this Dirt Bag!)

MadInChicago, I know he is a dirtbag in more ways than a few .

Just make it retro for about 40 years.

thanks for posting that

We've got to keep an eye on his opponent, who happens to be against illegal immigration.


Durbin's GOP opponent launches Senate campaign

By David Mendell

Tribune reporter

11:56 PM CDT, April 2, 2008

Republican U.S. Senate candidate Steve Sauerberg launched his general election campaign Wednesday by tossing a handful of barbs at Democrat Dick Durbin, but found himself having to explain his positions on pork-barrel spending, the war and other issues.

The family physician and political neophyte from Willow Springs accused Durbin of being a "career politician" who is deeply intertwined with the Washington establishment.

In opening his "Stop the Sell-Out" tour at Illinois GOP headquarters in the Loop, Sauerberg said Durbin protects special interests and endorses congressional earmark spending, which is funding directed to a specific project or recipient. Sauerberg proposed a one-year moratorium on earmarks.

"Dick Durbin has turned Illinois into America's ATM, as taxpayers here are forced to foot the bill for wasteful projects across the country," said Sauerberg, noting that Illinois ranks fifth from the bottom in money returned to the state from Washington.

But Sauerberg was asked if that message was mixed, given that he criticized Durbin for not bringing enough federal money to Illinois while also arguing that the earmarks which would do so should be halted.

"I don't intend to benefit Illinois from bringing home pork," Sauerberg said. "I intend to benefit Illinois by bringing home routine, transparent legislation that will bring capital improvements to this state."

A Durbin spokeswoman replied that the senator has been forthcoming about releasing personal income and tax records, as well as putting all his earmark requests on display on his Web site.

"On every level, we have been extremely transparent," spokeswoman Christina Angarola said, adding that these funding requests benefit Illinois.

Durbin secured more than $600 million in projects for Illinois in fiscal year 2008, she said.

dmendell@tribune.com

www.chicagotribune.com/news/local/chi-s ... 7195.story
chicagotribune.com

Well Well someone else Does have Senators as bad as mine in Fl .
As for the housing situation . I'll never believe for a second the home buyer didn't know what he was signing . They where all banking on and playing a risky game of "Beat the Time limit " for rate adjustment . They lose . But thanks to our screw ball government we all lose . More tax money to bail out bad loans to bad credit risk by bad bankers wanting that huge bonus . Why are WE saving banks (wall street) with huge bonus officers that allowed this to happen ?

Makes you woder how so many lived in small homes in the past . I know that we lived middle class and never dreamed of having a 3000 s house like they do today . A high morgage payment was not even thought of by my generation .

Big cars, big homes and big wardrobes have come home to roost .

On the ABC World News tonight ,Gibsom had a couple who only made $30,000 between the two of them, yet they bought a $365,000 house ! And even sued the bank and won !

Isn't that amazing. How did this couple think they were going to pay for that house on $30,000??

Mortgage lenders should have never qualified them for that amount. But the borrower needs to take responsibility.