On the House floor today, Republicans are rallying behind the HAMP Termination Act. Eliminating HAMP (The Home Affordable Modification Program) will deeply and directly affect middle class homeowners who are already in trouble.
Meanwhile, the left is making the case for keeping homes affordable—a critical element of American families feeling secure in this unstable job market.
AP
As one Congresswoman puts it:
“[The Republicans] have no plans of their own to address the foreclosure crisis that is hurting neighborhoods and disrupting lives throughout their country. Like the jobs bills they said they would have. We have yet to see them.”
--Rep. Carolyn Maloney (D-NY)
But the solution offered by a GOP Rep. today was simply: “Stop talking about jobs.”
Watch:
In other words, Rep. Judy Biggert (R-IL) is saying that her Democratic colleagues should stop whining that her party hasn’t created any jobs (like they promised) and instead should be voting to end this crucial housing solution.
Remember, 7 million families have lost their homes since the housing bubble burst and 3 million more are expected to lose their homes within the next year.
And if that's not motivation enough, just look at these facts behind the current success of HAMP:
- Over 600,000 homeowners across the country have received a permanent HAMP modification.
- Those funds to homeowners have allowed for reduction on mortgage payments by an average of more than $500 or 37 percent per month.
- Tens of thousands of additional homeowners receive assistance from the program every month.
- For many struggling homeowners, HAMP offers the most affordable and sustainable assistance available.
Check out some other sobering foreclosure photos and stats on this HuffPo slideshow.
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People forget that the Republican house defunded the Jobs bill that would have allowed unemployment insurance to be used for training/education to migrate unemployed into new jobs.
People also forget that Republicans advocate reduced immigration despite proof that immigration stimulates the economy and increases housing prices.
People forget that Republicans advocate law-and-order that produces prison population in the United States that are #1 in the world.
Republicans are actually creating the problems that Republicans are using to get elected.
the repulicans are heartless
People forget the Community Reinvestment Act (CRA) of 1977 required banks to offer credit throughout their entire market area for “underserved” populations, which gave incentives to help low income borrowers become “home owners”. The CRA was passed by the Carter administration.
In 1995, the Clinton administration authorized subprime loans under the CRA. Democrats added provisions for the securitization of subprime loans and then ENFORCED the lending to high risk individuals. By 2000, one trillion dollars had been loaned to subprime borrowers.
Fannie Mae, a government sponsored enterprise, wanted to increase the number of mortgages sold. How does one accomplish this? This is done by making the loans available to low income borrowers through “affordable mortgages”. REMEMBER...The banks HAD to issue subprime mortgages or pay stiff penalties mandated under the CRA.
So how does one keep the loans affordable? No money! No money down! Interest only! Low variable rate! No income verification! Bad credit? No credit? The expansion of the CRA under Democratic Congressional and Presidential pressure is directly to blame. “Why did the Democrats block S-190? (look it up)” you ask? Because Fannie and Freddie have friends in the Senate - Sen. Chris Dodd and then Sen. Barack Obama.
Jobs? Now that's a phrase the Repubs don't want to talk about seriously. just a mention every now and then about how the upper 2% tax break extentions are creating jobs. Yeah Right, dream on Boehner, You're toast when you come up for re-election. Then maybe you can worry about how you will keep YOUR home.
Where were the cries for "jobs" over the past 2 years when the Democrats controlled both the House and the Senate? That's probably why she made this comment. It's ironic to have Democrat Congressmen asked, "Where are the jobs?" when they made no progress over the past 2 years. It was a response to an insincere inquiry by those that are playing political games with your lives.
Judy Biggert is my congresswoman, and I am appalled that she has made these statements and try to vote down the HAMP act. I wrote to her before the vote on the Affordable Healthcare Act and told her if she voted against it, I would never vote for her again and would encourage my friends and neighbors not to vote for her. She opposed the healthcare reform bill. Consequently, I supported and voted for her Democratic candidate, Scott Harper, in the November election.
This new tack that we shouldn't be discussing jobs and get on with dispensing with HAMP is one more reason not to vote for her.
The republicans are getting jobs created in the private sector, too bad they are jobs in the forclosure market.
hey judy biggert! where are the jobs ???
Now when the RepublicKKKans kept asking where are the jobs when the Democrats were in charge of the house. At least, the Democrats had enough respect to the Minority Party at the time not to say to the GOP " Stop Whining about jobs". We sent these people to congress to create jobs not make stupid bills such as this one. I truly know who the RepublicKKKans are really for ex: the Koch Brothers. Now here in the Great State of Illinois where the democrats run the statehouse we are going to lose one congressional seat I want Judy Biggert or Joe Walsh to lose there seat. DEMOCRATS 2012
How is it that the party of Lincoln (Republican) that freed the slaves, fought against the Southern Democrats that used the KKK as their 'militant arm' - going back to the late 1800's when President Ulysses S. Grant passed the Civil Rights Act of 1871 (Ku Klux Klan Act), and Republicans marched with MLK in support of the Civil Rights movement, can be called the "RepublicKKKans"? Do you know how foolish, no stupid, you look to say something that is historically inaccurate with no basis in fact whatsoever? You might want to educate yourself and learn a little American history before ASSuming too much. Apparently, you've been listening to the B.S. spewed by Rev. Wright and Rev. Farrakhan.
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Replace the 'dot' with a . so you can see the website and the history of the Republican Party and the Black Community (Civil Rights).