posted by Joe Polk at 4:38 PM /
Today, state House lawmakers overwhelmingly passed a bill sponsored by state Rep. Matt Smith, D-Allegheny, that would protect Pennsylvania homeowners from unfair home-loan practices.
"With today's housing market slump, we need to be protecting homeowners from unfair lenders," Smith explained. "One way we can do that is by revising an outdated state law that was supposed to protect borrowers, but is now so old that it's actually working in favor of the mortgage industry. We also need to give the state Banking Department -- the experts -- the legal power to investigate and fight unfair lenders."
Link: http://www.pahouse.com/PR/042040808.asp
"With today's housing market slump, we need to be protecting homeowners from unfair lenders," Smith explained. "One way we can do that is by revising an outdated state law that was supposed to protect borrowers, but is now so old that it's actually working in favor of the mortgage industry. We also need to give the state Banking Department -- the experts -- the legal power to investigate and fight unfair lenders."
Link: http://www.pahouse.com/PR/042040808.asp
Labels: homeowners, mortgages, representative matt smith
1 Comments:
Thanks Matt! It's nice to see some legislators stepping in to do something meaningful to protect homeowners!
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