housing crisis

FOR IMMEDIATE RELEASE:                                CONTACT: BARBARA RILEY

7/26/08                                                                                          202-224-2841

                                                                                                        LIZ CHAMBERLAIN

                                                                                                        603-430-9560

SUNUNU ISSUES STATEMENT ON

 “FORECLOSURE PREVENTION ACT”

Supports bill to address housing crisis and mortgage regulation

WASHINGTON, DC – United States Senator John Sununu (R-NH) voted today (7/26) to pass the “Foreclosure Prevention Act”– comprehensive legislation that will help struggling homeowners hard-hit by foreclosures, stabilize the housing market, reform the oversight of government sponsored enterprises Fannie Mae and Freddie Mac, and strengthen mortgage disclosure requirements. In addition, the Act provides an increased standard deduction for those who pay property taxes but do not itemize deductions on their federal returns. 

Saturday, July 26, 2008

GREGG: HOUSING MEASURE WILL HELP HOMEOWNERS AND THE ECONOMY GET BACK ON TRACK

NH Senator supports bill to help people stay in homes, stem foreclosure rates, provide stability to the financial markets and restore confidence in the nation’s economy

WASHINGTON—United States Senator Judd Gregg (R-NH), Ranking Member of the U.S. Senate Budget Committee, today applauded Senate passage of the Foreclosure Prevention Act of 2008 (H.R. 3221) to help stabilize and revitalize the nation’s ailing housing sector and financial markets while helping homeowners avoid mortgage delinquencies and defaults.  The measure was passed by a vote of 72 to 13, and it now heads to the President’s desk for his signature.

For Immediate Release

July 25, 2008

Contact: Matthew Miller, 202-485-3123

Hannah August, 202-485-3129

SUNUNU JOINS FRINGE, VOTES AGAINST HOMEOWNER HELP

One of 13 to oppose addressing the growing mortgage crisis

On the same day that a new report showed that housing foreclosures doubled in the second quarter, Republican Senator John Sununu joined only thirteen Senators to vote against a bill to address the growing mortgage crisis and provide relief for struggling homeowners. The legislation Sununu voted against garnered wide bipartisan support, including backing from President Bush and New Hampshire Senator Judd Gregg, and ensures the ongoing ability of Fannie Mae and Freddie Mac to keep mortgage markets functioning.  The bill also enables 400,000 homeowners to refinance into affordable mortgages and save their homes, helps communities hit hard by foreclosures to prevent empty houses from becoming drug and crime magnets, and gives a temporary tax credit to homeowners to offset property tax bills.