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 Anna Pratt Special to Finance & Commerce
It isn't just about people losing their homes.
Ripples from the long-running foreclosure crisis, experts told an audience in Minneapolis on Saturday, are spreading throughout the U.S. economy, affecting even those who, intuitively, might be expected to benefit.
By Joseph Williams, Globe Staff
Stung by accusations from some African-Americans that he has not done enough for urban communities, President Obama has embarked on an effort to soothe a constituency once counted as his fiercest source of support.
In a series of interviews this week with media outlets aimed at African-Americans, Obama said he understands pent-up frustrations about foreclosures, bank bailouts, and festering social issues, while he also challenged assertions that he has given short shrift to cities.
By Hazel Trice Edney - NNPA Editor-in-Chief
The 10 Black members of the powerful House Finance Committee are still being applauded this week for boldly boycotting a committee meeting in order to force a $4 billion allocation to benefit the Black community.
They have told the NNPA News Service that they plan to escalate protests if lawmakers continue to ignore the suffering of their constituents, including advertising discrimination against Black newspapers.
By Richard Simon
By Greg Kaufmann
December 10, 2009
At Tuesday's House Committee on Financial Services hearing titled "The Private Sector and Government Response to the Foreclosure Crisis," Julia Gordon, senior policy counsel for the Center for Responsible Lending, painted a bleak picture.