Virginia gubernatorial hopeful Brian Moran is proposing a bill of rights for struggling homeowners threatened by foreclosure.
Moran, a former state delegate and one of three Democrats seeking his party’s nomination, announced the plan Friday in front of a foreclosed home in Loudoun County.
“We can’t wait and expect the crisis homeowners are facing to go away,” he said.
“Urgent action is needed now because the family dinner table is in jeopardy, literally. I’m going to fight hard to enact this bill of rights on day one as governor.”
The bill of rights would provide a 90-day foreclosure delay, require lenders to offer financial education on the dangers of subprime loans and scams, force banks to maintain foreclosed homes, and ban “predatory mortgage lending.”
That ban, he said, would bar lenders from offering an expensive mortgage when a borrower qualified for a cheaper one.
Moran faces former Democratic National Committee Chairman Terry McAuliffe and Bath County state Sen. Creigh Deeds in a June 9 primary.
The victor will face former Virginia Attorney General Robert McDonnell, who left his position Friday to run full time.
