Congressman Barney Frank and Mayor Scott W. Lang Address Foreclosures, Participate in Panel Discussion

New Bedford, Mass.–Congressman Barney Frank and Mayor Scott W. Lang co-sponsored a forum on foreclosures on Monday, June 30, 2008 at the UMass Dartmouth Continuing Education building in New Bedford. The purpose of this event was to discuss the size and scope of the foreclosure problem in New Bedford; as well as the contributing factors and the impact on affected parties, including homeowners, tenants, neighborhoods and families.  

Mayor Lang presented opening remarks and Congressman Frank conducted the keynote address. The forum featured a legislative update by State Representatives, including Representatives Cabral, Canessa, Koczera and Quinn.  A state and federal resource panel discussed legislative and regulatory responses to foreclosures that impact the lives of the residents of New Bedford and included representatives from CHAPA (Citizens Housing and Planning Association), the Department of Housing and Community Development, Fannie Mae, MassHousing, NeighborWorks® America, and the Massachusetts Office of Consumer Affairs and Business Regulation.  A second panel focused on the local response and initiatives and featured representatives from the City of New Bedford Office of Housing and Community Development, Catholic Social Services and the New Center for Legal Advocacy.  The City’s OHCD discussed funding that is available to New Bedford residents who are working with a certified Housing Counseling agency, such as Catholic Social Services, and have received an approval for a workout plan, but may need help paying for closing costs to complete the transaction.

Mayor Lang stated, “We convened this forum to engage representatives from local, state, and federal government; the real estate and banking communities, and other stakeholders in a candid discussion about the impacts of the housing crisis in our community.  We hoped to gain a better understanding of our current situation and to identify some concrete steps we as a community can take to mitigate the negative effects of this problem as we prepare to meet the challenges that lay ahead.”
Congressman Barney Frank noted, “Once again Mayor Lang is taking an important step to respond to the issues facing the people of New Bedford.  I welcome the chance to share with the residents what we are trying to accomplish in Washington, and to learn from them what more we should be doing”.

For more information, please contact Elizabeth Treadup at 508-979-1410 or send an e-mail to Elizabeth.Treadup@newbedford-ma.gov.