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-- the -- foreclosure isn't something that New England Patriots quarterback Tom Brady has a lot to worry about but that's not stopping the patriots from helping.
Homeowners in trouble Adam Shapiro John did what exclusive report from Gillette Stadium in Foxboro mass I -- not a.
Mean hello again and we are joined exclusively with -- Robert Kraft to everybody would know pretty much is the owner of the New England Patriots and they are the sponsors of this event.
To help at least a thousand people find some foreclosure relief there's several participants but first mister Kraft.
Thank you for joining us first on fox with this exclusive interview and I'm curious.
Why did the patriots why did you decide to reach out and help so many people.
Well this is a no brainer.
I've never seen financial conditions in America quite like they are now -- The strength of this country is people owning their own home -- like we say no one -- a rented car and if you own your own home you -- -- sure.
Long you care about your neighbor you care about your church you -- vultures school and we need people continuously.
Investing in their communities and having a homeownership and taken pride in their communities and we want to do everything we can to help people maintain their home ownership.
And we heard the governor who was also peer -- talking about the need for banks to work out loan modifications and deals with the people who are in trouble because they don't wanna own foreclosed tumbled one of the complaints we've heard -- that the statistics we've seen through hope now is that the banks are working out certain.
Prepayment repayment plans rather.
But those still lead to foreclosure do you think the lenders and service -- servicers here today are going to work with these people to keep them announced.
Yes and we have brought people in the we haven't publicize that can help facilitate arrangements.
-- help the financial institutions but at the same time.
Helped that people who only.
The banks don't want to take these homes back so whatever they can do.
To create cash flow to create stability and get some thing.
On an even keel is in their interest and I think -- be some creative suggestions of them.
Two -- in ways that they can get done.
And -- -- one walk away happy rather than.
And not trying to work these things.
And I you know you understand financial understand business do you think where we're approaching the bottom of this economic housing mess that we -- -- I'm not Smart enough to know that I I think we still -- have to work some things out.
Over the next couple quarter so I can only speak.
About our industrial business are.
Our businesses are doing pretty well now and I think part of that is the weak dollar.
We know we're doing a development here patriot place -- We're -- between two and 3000 people in Massachusetts.
I think things have the potential to be a lot better we just got to get the small ways this.
And straighten out the balance sheets of our financial institutions slipped.
Can't land to good compliments because they're trying to straighten out their own soon.
-- impact just yesterday we saw the loan survey the loan officer survey from the Federal Reserve indicating that banks are actually getting tighter.
With their -- not only to individuals but to businesses and I would imagine from your friends in the business community is this creating kind of what they call -- negative feedback loop in English creating problems down the road for us.
Well I hope not we don't see -- we're seeing just the opposite.
And the good thing now is slowed the bubble is out of the economy so these inflated values there.
And any of us that are interested in growing our businesses and creating value this is a great time of the -- Right last question for him mister Kraft and predictions for the season.
We will we're gonna go one game at a time one game at a time I know that some of my friends in Cleveland Ohio who have choice words for -- coach might.
Want to take you up on -- and we really -- Your friends in Cleveland Ohio have a great coach and Romeo Carmel absolutely is terrific and they don't have a great team.
Thank goodness we don't play him this year well thank you very much you play your New York Jets.
Any comment on this -- of their by the way I tell it to get away.
-- -- -- -- -- -- -- Your team.
But we got a pretty good -- at quarterback -- so it'll be it'll be fun.
Second week of the season down on the -- it's a blessing Cleveland also think you got a pretty good coach too although please don't call me in Cleveland I would be in big trouble in my openly of the best coach in football.
-- -- As soon as that year for -- on the box.
So we're gonna be here hopefully we're going to be talking to some of the people who -- working through their mortgages you know one of the things that they're doing is they're respecting the identities of the people who are coming at anticipating a thousand people.
And they're controlling us to be honest with you -- not letting us have access to them.
But we're gonna do our best to see if we can bring you some of their stories and how they're working out.
These foreclosure nightmares -- -- ask your.
-- and take you so much it and I like how you really didn't mention that -- -- living in New York that was a nice little.
Great job and I got to what I saw got a lot of connections with the Cleveland (%expletive) can I gotta tell you mr.
-- its -- choice words for him in Cleveland snow no comment after that we've got a little -- we got a company helping out -- -- local citizens.
Around good story.
Thank you thank you as Americans -- -- --
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