March 31, 2008

Senator Christopher Dodd Promotes Mortgage Legislation; Visits NeighborWorks Member Neighborhood Housing Services of New Britain

L-R:Kyle Andersen, homeownership director, NHS New Britain, Sen. Dodd, Al Watson, executive director, NHS New Britain

New Britain, CT —On March 27, U.S. Sen. Christopher Dodd visited Neighborhood Housing Services (NHS) of New Britain, a NeighborWorks America member organization in Connecticut, to discuss his efforts to address the housing crisis.  He was acommpanied by U.S. Rep. Chris Murphy, D-5th District.

During the visit, Dodd met with staff, including Al Watson, NHS of New Britain's executive director, and Kyle Andersen, homeownership director. He also had the opportunity to meet with Annie Owens, a homeowner who worked with NHS New Britain to save her home from foreclosure.

U.S. Rep. Chris Murphy, D-5th District (left), Watson and Sen. Dodd drop by NHS New Britain's new Post Purchase Workshop.

Dodd’s tour stop to the organization was part of an effort to promote his Hope for Homeowners Act that would create a housing-security program to help with buyouts of existing mortgages, so those who face foreclosure could pay mortgages at modified interest rates.  

“Connecticut is the most affluent state in the country, yet Bridgeport has 6,000 foreclosures,” said Dodd, who is chairman of the Senate Committee on Banking, Housing and Urban Affairs. “We are looking at a lot of people who are suffering.”

According to recent figures, New Britain homeowners are in trouble. As of March 24, there have been 246 preforeclosures and 34 homes foreclosed.

In the last five months, NHS of New Britain already served 50 cases. Last year, it served only 74 cases. An estimated 55 percent of the clients they see have successfully kept their homes.

With inflation up and unemployment rising, people are struggling to stay afloat. Dodd credited nonprofit agencies like NHSNB that have helped make a huge difference in people’s lives.