Emergency Mortgage Relief Program Termination Act

Floor Speech

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Mr. McCLINTOCK. I thank the gentleman for yielding.

Two years ago, the President told us that we were all to blame for the housing bubble and the financial crisis that followed. No, we're not. Those families who passed up the get-rich-quick real estate seminars and who turned down the loans that they couldn't afford, or who settled for a smaller home, or who rented because that's all they could afford, they're not to blame. And they shouldn't be left holding the bag.

Ninety-one percent of Americans are making their mortgage payments not only because it's the right thing to do, but because they know that the sooner the market corrects itself the sooner their homes will begin to appreciate once again. By propping up bad loans and by undermining responsible homeowners, our government's extending the agony and postponing the day when the market stabilizes and home buyers can safely reenter the housing market.

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