| Chinese Drywall Congressman Glenn Nye Forebearance Legislation |
| Friday, 09 October 2009 | |
Congressman Glenn Nye (VA-02) announced that he had introduced a Concurrent Resolution (H.Con.Res. 197) in the House of Representatives, calling on mortgage holders to allow homeowners to apply for a temporary forbearance in their mortgage payments. Following is the Press Release from the Congressman's office.
Nye Asks Banks, Mortgage Lenders to Aid Drywall VictimsWashington, DC – Congressman Glenn Nye (VA-02) is asking banks and mortgage servicers to provide assistance to homeowners struggling with toxic drywall. On Thursday, Nye announced that he had introduced a Concurrent Resolution (H.Con.Res. 197) in the House of Representatives, calling on mortgage holders to allow homeowners to apply for a temporary forbearance in their mortgage payments. Due to the toxic fumes emitted by the drywall, many families have been forced to leave their homes and seek shelter with friends, relatives and neighbors. Families that have been forced to move into rental housing now have to pay both the cost of their mortgage and the cost of renting. Some homeowners have been successful in applying for forbearance, but not all lenders have been willing to cooperate. “Families in Hampton Roads are now paying for both rent and a mortgage on an uninhabitable home, and at a time when the economy is already struggling, this is simply too great a hardship,” said Congressman Glenn Nye. “Recognizing this issue in Congress and formally asking lenders to be a part of the solution will give families more leverage when working with banks or mortgage holders who may be unfamiliar with the seriousness of this problem. While we work to get families back in their homes, I’m going to try every possible avenue to offer them some relief.” On Thursday afternoon, Nye discussed the resolution with more than twenty homeowners from Hampton Roads who had traveled to Washington to meet with lawmakers. Due to the size of the group, Nye arranged to move the meeting to the House Small Business Committee hearing room in the Rayburn House Office Building. Nye is the Chairman of the House Small Business Subcommittee on Contracting and Technology. Last Saturday, Nye toured two homes in Virginia Beach that were built with toxic drywall and met with homeowners. In May, Nye toured the Virginia Beach home of Colleen Nguyen and held a meeting with approximately a dozen families to discuss the challenges they faced. To view text of Congressman Nye’s resolution, please click here
To view the online Press Release, please click here.
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Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.
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