Contact: John Hartgen
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(703) 739-0800
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href='mailto:jhartgen@abiworld.org'>
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CONGRESS
SHOULD NOT ENACT A NATIONAL 3-6 MONTH FORECLOSURE MORATORIUM, ACCORDING
TO LATEST ABI QUICK POLL
size='3'>February 2, 2009, Alexandria, Va.
size='3'>— A large majority of respondents (60 percent) in a
recent ABI Quick Poll think that Congress should not pass legislation
providing for a national 3-6 month foreclosure moratorium in response to
the housing crisis.
size='3'>Fifty-two percent of respondents “strongly
disagreed” and 8 percent “somewhat disagreed” that
Congress should pass legislation establishing a national foreclosure
moratorium for 3-6 months.
However, 36 percent of
respondents agreed that Congress should pass legislation providing for a
national 3-6 month foreclosure moratorium. Thirty percent
“strongly agreed” and 6 percent “somewhat
agreed” that Congress should pass legislation suspending
foreclosures for 3-6 months. Two percent of respondents did not know or
had no opinion on the issue.
The Quick Poll was based
on proposals to suspend foreclosures nationwide for 3-6 months, such as
the 90-day moratorium recently recommended by Senate Banking Chair
Christopher Dodd (D-Conn.) as part of the economic stimulus package.
Many states have explored the idea of foreclosure moratoriums as a
method of easing the housing crisis. Proponents of a national
foreclosure moratorium say that it would give distressed borrowers and
lenders time to seek financial relief.
size='3'> Opponents of a national
foreclosure moratorium argue that it could delay the recapitalization of
the banking system and delay the restoration of stability in the
financial markets and financial relief to homeowners.
ABI members and members of the
public were welcome to submit their response to the statement:
“Congress should pass legislation providing for a national, 3 to 6
month foreclosure moratorium.”
ABI’s Quick Poll is
posted on ABI’s home page,
href='http://www.abiworld.org/'>
size='3'>www.abiworld.org
size='3'>. ABI members and the public are invited to respond to a
question on a timely bankruptcy or insolvency issue. Visit
href='http://www.abiworld.net/quickpoll/'>
color='#0000ff' size='3'>http://www.abiworld.net/quickpoll/
to access the results of previous
ABI Quick Polls.
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ABI is the largest
multi-disciplinary, nonpartisan organization dedicated to research and
education on matters related to insolvency. ABI was founded in 1982 to
provide Congress and the public with unbiased analysis of bankruptcy
issues. The ABI membership includes nearly 11,700 attorneys,
accountants, bankers, judges, professors, lenders, turnaround
specialists and other bankruptcy professionals, providing a forum for
the exchange of ideas and information. For additional information on
ABI, visit www.abiworld.org. For additional conference information,
visit
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