Durbin Meets with Albany Park Neighborhood Council to Discuss the Impact of Foreclosures in Cook County
[WASHINGTON, D.C.] – Assistant Senate Majority Leader Dick Durbin (D-IL) today met with the Albany Park Neighborhood Council to discuss the impact of foreclosed properties on Cook County. In 2008, there were 20,000 mortgage foreclosure cases filed in Cook County. In just two years, foreclosure evictions have nearly tripled from 1,771 evictions in 2006, to nearly 4,500 in 2008.
Durbin explained to the Council that one of his top legislative priorities of the year is the passage of his Helping Families Save Their Homes in Bankruptcy Act, a bill he re-introduced in early January. Durbin’s bill could help millions of at-risk homeowners prevent foreclosures by allowing them to modify the terms of their mortgages in bankruptcy proceedings. This change to an outdated bankruptcy code would help stabilize the flagging economy by addressing the root cause of its continued downturn: the nearly two-year-old housing crisis.
Members of the Council at today’s meeting included: Edith Adachi, Diane Limas, John Lastre, Clara Lastre, Florence Oluyadi and Emily Burns.
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