Casey, Kessler: Several banks will help keep homeowners in their homes

FOR IMMEDIATE RELEASE
State Rep. David Kessler
D-Berks
www.pahouse.com/Kessler

Casey, Kessler: Several banks will help keep homeowners in their homes

Banks agree to extend forbearance agreement beyond deadline

OLEY, May 30 – U.S. Sen. Bob Casey (D-PA) and state Rep. David Kessler (D-Berks) today announced that four financial institutions have agreed to their requests for an additional extension of the forbearance agreement for hundreds of the homeowners affected by the bankruptcy of the Personal Financial Management firm formerly headed by Wesley Snyder.

"Without these extensions to September, many of these homeowners would have faced serious problems after May 31," said Casey. "I want to thank the financial institutions for working with us to extend these arrangements. Representative Kessler deserves particular praise for his determined pursuit of extensions to September 30 from the mortgage companies for these homeowners, and I also want to commend Senator Specter, Congressman Holden and Senator Brubaker for their involvement. Together, we will continue to work on behalf of the homeowners affected by this situation."

Kessler said, "These homeowners are financially stressed or simply unable to make the payments that had been requested. Many of them have been in danger of losing their homes to foreclosure, and Senator Casey has been instrumental in the effort to prevent that. I would also like to commend Fulton Bank for stepping up and offering help to these homeowners."

The lawmakers specifically wanted to express their appreciation to the four out of the six major lenders who agreed to the additional extension: Countrywide, SunTrust, Washington Mutual and Citigroup.

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