Homeownership has long been a central element of the American Dream. However, millions of American families are now at risk of losing their homes to foreclosure.
I am focused on finding solutions that will lead us out of both the immediate housing crisis and the larger financial crisis.
Even before analysts and the press were focusing on our current housing crisis, I was working tirelessly to help struggling renters make their monthly payments, which can be as high as half of their income. It’s easy to sometimes forget about this substantial portion of Americans, but it is critical that we continue to support these families.
I am committed to doing everything in my power to keep Americans in their homes. I have been at the forefront of encouraging and promoting loan modifications, housing counseling and mortgage servicer reform. I also am dedicated to fully funding our nation’s public housing and expanding the number of housing choice vouchers so that our nation’s most at-risk individuals can access the safe, decent and affordable housing of their choice.
This housing crisis developed over many years through neglect, so moving forward it is important to fully fund our nation’s housing programs.
More on Housing
By Kevin Drawbaugh
A bill to overhaul the troubled National Flood Insurance Program, which covers more than five million homes and businesses in flood-prone areas, was approved on Tuesday by a congressional committee.
The bill, if approved in the full House and Senate, would reauthorize the program for five years and delay implementation of new rate maps for flood zones so homeowners newly included in a flood zone do not face an immediate new insurance cost.
by Anita Lee
A House bill to reauthorize the National Flood Insurance Program through September 2015 falls far short of reform the program needs for financial solvency, experts and politicians testified during a congressional subcommittee hearing Thursday.
by JIM ABRAMS
Many people trying to buy a house with a riverfront view were up a creek the past few weeks because of the temporary shutdown of the federal program that provides flood insurance.
Much was made of the thousands of workers losing their unemployment checks or their access to a federal health care program while the Senate took weeks to act on an $18 billion bill to extend, through the end of May or early June, several benefits programs that had expired.
by Alan Zibel
The number of homeowners in the Obama administration's flagship foreclosure prevention program is growing, data released Wednesday show. Yet it's not all good news.
About 231,000 homeowners have completed loan modifications through March. That's about 21 percent of the 1.2 million borrowers who began the program over the past year.
But another 158,000 homeowners who signed up have dropped out -- either because they didn't make payments or failed to return the necessary documents. That's up from about 90,000 just a month earlier.