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May 15, 2007

Sen. Reed announces legislation to protect against foreclosures

May 14, 2007 - 5:33PM
PROVIDENCE, R.I. (AP) - Senator Jack Reed unveils legislation to help homeowners in financial trouble avoid foreclosing on their properties.

The legislation is titled the Homeownership Protection and Enhancement Act of 2007.

It would provide 50 (m) million dollars to create and operate centers that would give homeowners financial assessments, counseling or referrals.

The HOPE Act would also provide 300 (m) million dollars to increase funding for counseling agencies approved by the federal Department of Housing and Urban Development.

The Rhode Island Democrat announced the legislation at a news conference in Providence this morning.

Article Source http://www.abc6.com/news/legislation_25977___article.html/provide_counseling.html

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