CBCF to Address National Foreclosure Crisis at ALC ’08 Town Hall Meeting
Onsite Representatives Will Be Available to Help Homeowners With Financial Concerns

WASHINGTON – The Congressional Black Caucus Foundation, Inc. (CBCF) will focus on the nation’s housing foreclosure crisis and possible solutions – and match housing and financial representatives with affected homeowners – at a national town hall meeting scheduled during its 38th Annual Legislative Conference at the Walter E. Washington Convention Center.

Titled “Foreclosure Crisis: Repercussions, Reasons and Real Solutions” the two-part town hall meeting will be held from 9 to 11:45 a.m., Thursday, September 25, and focus on the mortgage crisis, its causes, recommended next steps and providing resources to those in need. Marc Morial, president and chief executive officer of the National Urban League, will moderate both parts.

The first panel will look at the effects of the Neighborhood Stabilization Bill on mortgages and foreclosures. U.S. Reps. Elijah E. Cummings of Maryland, Barney Frank of Massachusetts, Sheila Jackson Lee of Texas and Maxine Waters of California will join Morial in the discussion. Other panelists will include Franklin D. Raines, the former chairman and chief executive officer of Fannie Mae, and officials from Citi, the Federal Home Loan Bank and NeighborWorks America.

The second panel will include Mayors Cedric B. Glover of Shreveport, La.; William Bell of Durham, N.C., and Wayne Hall of Hempstead, N.Y., who along with a host of community leaders will share solutions that have worked in their areas. This interactive session will give the audience the opportunity to address policy from the regional and local perspectives.

“This housing crisis has a trickle-down effect that is affecting millions of Americans every day,” said Elsie L. Scott, Ph.D., president and chief executive officer of CBCF. “We will be hearing very personal, very real stories of what is going on beyond Washington. That is why we will have critical breakout and call-for-action sessions in the convention center following the town hall meeting.”

The town hall meeting will then segment into two breakout sessions: “Save or Sell” and “Credit Management After the Crisis.” Participants will learn specific information regarding credit management, mistakes to avoid and how to decide whether to hold onto or sell a home.

On September 25-26, CBCF will host a call-for-action during which time national mortgage institutions, nonprofit housing agencies, community organizations and real estate professionals will help homeowners repackage their mortgages, manage and repair their credit and rebuild after losing their homes. Homeowners seeking help should bring two of their most recent pay stubs, their most recent mortgage statement and their mortgage closing documents.

“What is going on in America right now is a shame and frightening,” Scott said. “Many families are struggling to hold onto their homes and many times, if they had just made a call to their creditors and mortgage companies, they would not have to lose everything. The Congressional Black Caucus and the Foundation are bringing together resources to help people keep the homes that they have worked so hard to buy. Our hope is to maintain and grow the American dream of homeownership.”

Overall, more than 18,000 people focusing on issues impacting African Americans and the African diaspora attend ALC each year. The four-day conference features dozens of policy forums, general sessions, exhibits, a job fair, book signings and networking opportunities. It ends with a star-studded awards dinner and after-dinner gala. Registrants include elected officials, business and industry leaders, celebrities, media, emerging leaders and everyday Americans.

Headlining ALC will once again be the 42 members of the CBC. They will lead forums on education, health care, the environment, economic development, criminal justice, housing, transportation and international affairs throughout the conference. On Saturday, September 27, thousands of people will join the CBC and CBCF in honoring the contributions of outstanding individuals for their contributions to the community and the nation at the awards dinner. Actress Holly Robinson Peete and former NFL quarterback Rodney Peete will co-host the dinner.

Other ALC ‘08 highlights will include:

• Celebration of Leadership for the Visual and Performing Arts. The CBC Spouses will honor “King of the Blues” legend B.B. King; Howard Bingham, Muhammad Ali’s longtime photographer, and visual artist Betye Saar at the National Museum of Women in the Arts on Wednesday, September 24. The next morning, the CBC Spouses and CBC members will provide food, clothing and health services at a homeless shelter in Northwest Washington.

• “Realizing the Vision: CBC Leadership in the Environmental Justice Movement.” CBCF’s award-winning online library, Avoice: African Americans in Congress (www.avoiceonline.org), will launch a new exhibit on environmental justice at an invitation-only luncheon on Friday, September 26. Luncheon speakers will discuss the past, present and future of African-American environmental activism.

• Presidential Debate Watch. CBCF will host what may be the largest-ever gathering of people to view a general-election presidential debate in a convention center ballroom on Friday, September 26. The debate will feature Senators Barack Obama (D-Illinois) and John McCain (R-Arizona) discussing foreign affairs from the University of Mississippi.

• Annual Prayer Breakfast. The Rev. Dr. Floyd H. Flake – pastor of Greater Allen A.M.E. Cathedral of New York, president of Wilberforce University in Ohio, and a former congressman –will deliver an inspirational message on Saturday, September 27. Acclaimed gospel singer Maurette Brown Clark, winner of Stellar Awards in 2000 and 2008, will lead the audience in musical praise.

• Black Health Empowerment Project (BHEP). CBCF will present the final stop of its national health initiative tour on Saturday, September 27 in the ALC ’08 Exhibit Showcase. International fitness celebrity Donna Richardson Joyner, creator of “Sweating in the Spirit” exercise videos, and her husband, Tom Joyner, host of the “Tom Joyner Morning Show,” are among the headliners set to appear at BHEP, which is free and open to the public.

The Congressional Black Caucus Foundation Inc. (CBCF) was established in 1976 as a non-partisan, non-profit, public policy, research and educational institute intended to broaden and elevate the influence of African Americans in the political, legislative and public policy arenas.