Foreclosure Crisis

Statement

America is still experiencing a foreclosure crisis and that is why I support President Obama's plan to make it easier for some homeowners to refinance their mortgages. That is also why I authored two bills to help struggling families keep their homes. My bills would clarify the authority of bankruptcy courts to operate mortgage modification programs, and would implement a competitive grants program for states and local governments to establish mediation programs.

Congress must also pass legislation that restores Federal Housing Administration and Government Sponsored Enterprise loan limits back to levels before the financial crisis. Memphis has been hit hard by foreclosures. Foreclosures evaporate middle class wealth. Let's help homeowners keep their homes and get the American economy back on the right track.

Source