Stein Statement: Common-Sense Bankruptcy Solutions Would Save Homes
I'm Eric Stein, chief operating officer of Self-Help, a non-profit community development lender, and senior vice president of the Center for Responsible Lending. Thank you for having me here today to talk about bankruptcy solutions that could help prevent the massive home losses occurring today. As a result of loans that never should have been made, 2.2 million families have already lost or will lose their homes and billions of dollars in wealth. These losses will hurt everyone, not just the families who lose their homes. For example, everyone with a $150,000 house who lives on a block with 3