“Helping Families Save Their Homes Act of 2009” Passes US House With Support of Virginia Democrats

housing prices
Today the U.S. House of Representatives  passed the Helping Families Save Their Homes Act of 2009 … this is a key component of President Obama’s homeowner stability plan … it could make it easier for lenders to renegotiate mortgages for families who owe more than their home is worth … for families driven into bankruptcy by housing payments  this bill allows bankruptcy judges to modify loan terms … it could help reduce pending foreclosures by an estimated 20%. … the bill was designed for those families who acted responsibly but need help because of circumstances they could not control … like the nationwide decline in home values that has seen values drop in some places by over 40% in the last year …(here in Fredericksburg one home was just sold for $212,000 it had a 2007 tax assessment of $324,000)  … it’s estimated that some 14 million families’ mortgages are worth less than today’s market value …

The final roll call vote shows:  

Virginia Republicans, Eric Cantor (R-7), Randy Forbes (R-4), Bob Goodlatte (R-6), Robert Wittman (R-1), and Frank Wolf (R-10) Voted NO.  … once again they proved they are part of the “Party of NO” who care little for their constituents … don’t these folks know the impact a single foreclosed home can have on a neighborhood … or how a neighborhood of foreclosed homes can help bring down the local economy …  or how our nation full of foreclosures can ever expect anything but a continued downward economic spiral …

Virginia Democrats, James Moran (D-8), Gerry Connolly (D-11), Glenn Nye (D-2), and Bobby Scott (D-3) all Voted YES … Tom Perriello (D-5) missed the vote after the recent loss of his father 

 

One Response to “Helping Families Save Their Homes Act of 2009” Passes US House With Support of Virginia Democrats

  1. […] 10. Obama Administration Opens New Website MakingHomeAffordable.gov […]

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