Statement by Senator Menendez on Foreclosure Settlement

Statement by Senator Menendez on Foreclosure Settlement

Washington - U.S. Senator Robert Menendez (D-NJ), Chairman of the Subcommittee on Housing, Transportation, and Community Development of the Senate Banking Committee, today issued the following statement about the settlement reached today between the state Attorneys General, banks, and other parties. He was not a party to the negotiation of the settlement.

"The $25 billion settlement helps homeowners, but it's a long way from healing the grievous wounds left by the crisis and deceptive mortgage practices. However, it is still more than has been done to date to help homeowners who were wronged by the foreclosure crisis, and will also provide greater stability to the housing market and improve the overall economy."

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