Gov. O'Malley & Dems - Help Save the American Dream

Governor Martin O'Malley & Democrats Help Homeowners

Sleep in Peace, Keep Their Homes

Emergency Laws Called "Ambitious" & "Groundbreaking"

Like millions of families all across America, thousands of Marylanders face foreclosure; losing their homes and possibly out on the street. The financial uncertainty from the catastrophic loss of their hard earned equity and savings can devastate a parent and child alike. 9,000 Maryland families suffered that fate last year. 25,000 more may face that horror in 2008, according to experts.

But "sweeping" measures have been signed into law that will pull families back from the financial brink and allow them to sleep in their bedrooms with comfort. The compassion and leadership of Governor Martin O'Malley, Senate President Mike Miller and Speaker Michael Busch - with the solid support of the majority Democratic members of the General Assembly - has once again led the nation in addressing a growing and frightful economic attack on families, young and old.

*Home Owners Preserving Equity: If you know someone in need, urge them to get help today by calling the HOPE Hotline - 877-462-7555. Or visit http://www.mdhope.org.
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From the Washington Post:
"Maryland lawmakers passed some of the nation's most ambitious legislation to control the housing crisis yesterday by toughening oversight of the mortgage-lending industry and establishing preemptive measures to help people at risk of foreclosure.
Taken together, Maryland's bills are among the most sweeping in the country as legislatures from California to Florida consider proposals to stem the escalating rate of foreclosures." [Washington Post, 4.3.2008]

Gov. Martin O'Malley 
"There will no longer be in our state the draconian fast-track to foreclosure that has existed in the past…People who unscrupulously try to prey upon the suffering and challenges of people who are economically vulnerable will face stiff criminal penalties when they try to profiteer on the backs of vulnerable people." [Washington Post, 4.4.2008]

Kwaku Attapoku, Husband and Father
"In my case, the law is coming too late, but it will help other people…it will give them a chance to fight these mortgage companies."  [Washington Post, 4.4.2008]

Senator Ulysses Currie (D), Prince George's County
"There are people who are suffering in silence and have the feeling they are two or three months behind in [payments] and don't know who to turn to…the bills will give these people a sense of hope and direction." [Washington Post, 4.3.2008]

Uriah King - Policy Analyst at the Center for Responsible Lending
"I think Maryland, in particular, has taken a really strong step forward in addressing the underlying causes of the foreclosure crisis, particularly the reckless underwriting." [Washington Post, 4.3.2008]