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State Representative Jim Davnie
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-0173
For more information contact: Jessica Nyman 651-296-8877
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Republicans Choose Banks Over Middle Class Homeowners
St. Paul, Minnesota -- Today, while debating HF2227, a bill related to banking laws, State Representative Jim Davnie (DFL – Minneapolis) and other DFL members attempted to amend the bill in order to provide some assistance to Minnesota homeowners facing foreclosure. Despite a recent report that stated Minnesota was 17th in the nation for home foreclosures, the amendments were voted down on largely party line votes.
“For many Minnesotans facing foreclosure, they are responsible homeowners who have found themselves in unfortunate, unforeseen circumstances, like the loss of a job, and are now having difficulty making ends meet," said Rep. Davnie. “As lawmakers we should be doing all that we can to provide a pathway out of foreclosure.”
Rep. Davnie offered two amendments to the bill to help homeowners. The first would have required banks to be more expedient in their approvals of short sales. Some homeowners looking to short sale wait months, sometimes a year, to hear from their bank regarding the approval of a short sale. Additionally, Rep. Davnie offered an amendment that would prohibit lenders from charging for services they did not provide.
“In my opinion, prohibiting banks from charging consumers for services they are not actually providing, is a no-brainer,” said Rep. Davnie. “Asking consumers to pay banks for services not provided, is just another example of Republicans choosing big business over the middle class.”
With the last committee deadline approaching at the end of the week, DFL legislators moved to amend HF 2227 with these foreclosure provisions because they were not, and are not scheduled, to receive committee hearings.
Said Rep. Davnie, “The amendments my colleagues and I offered on the floor this afternoon are not radical. They are not outrageous policy requests. They are simple ideas that will positively impact every homeowner in Minnesota facing economic hardships, providing them a pathway into prosperity.”
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