Tax Realty Consultant

WASHINGTON, April 3, 2008 /PRNewswire-USNewswire/ — More than 15
national organizations (listed below) issued the following joint statement
in response to the Foreclosure Prevention Act and its failure to include
bankruptcy measures:

“The Senate Housing package misses the single most significant step
needed to help the 20,000 American families with subprime loans that are
losing their homes each week through foreclosure: the bankruptcy amendment.

“We are left with a bill loaded with special considerations for
mortgage companies and builders that does very little for homeowners who
were sold predatory loans by mortgage lenders.

“Any final bill hammered out between the U.S. House and Senate that is
a serious effort to stem the foreclosure crisis must include meaningful
relief to families to modify their mortgage in bankruptcy. Bankruptcy
relief will stabilize communities, keep more than half a million families
in their homes and provide lenders at least as much income as they would
receive through foreclosure.

“As the Senate bill stands, we will continue to see foreclosures tear
down communities and wipe out the most important source of financial
security that most Americans have.

“We are encouraged that there is recognition that the bill under
consideration by the U.S. Senate today is only part of the solution.
Without bankruptcy relief, Congress will be condemning hundreds of
thousands of American families this year to losing their homes.”

Center for Responsible Lending

Leadership Conference on Civil Rights

ACORN

American Federation of Labor and Congress of Industrial Organizations

Consumer Action

Consumer Federation of America

Consumers Union

Lawyers’ Committee for Civil Rights Under Law

NAACP Legal Defense & Educational Fund, Inc.

National Association of Consumer Advocates (NACA)

National Association of Consumer Bankruptcy Attorneys

National Consumer Law Center

National Association of Neighborhoods

National Council of La Raza

National Fair Housing Alliance

Opportunity Finance Network