Political Quotes

“the gentlewoman from Ohio obviously points out a significant problem with foreclosures in Cleveland. It is actually a heart-breaking experience that the people of Cleveland are going through when one out of every five or six houses are undergoing foreclosures. You hear some pretty devastating figures. I know, I used to be an attorney for the FOP, Fraternal Order of Police, in Birmingham; and there is absolutely nothing more problematic in a community than a vacant house from a crime standpoint as well as from a property value standpoint. The notice she requires, I think some of that is addressed by Mr. Green and Mr. McHenry, but it is at an earlier time. I would say this, I personally am not going to ask for a roll call on this. Going forward, I think parts of this amendment are very good. I think stating what the new interest rate will be, giving somebody a notice. The Federal Reserve said some folks sort of, you know, this is something that they don't always see or focus on. But explaining what the new interest rate is going to be and how it is going to be determined, that could be somewhat problematic, but it could be worked in a range as long as the regulators are given some discretion. Offering the borrower the best estimate of what the new monthly payment will be could also, as long as there was some range or discretion in there. The last two things I think are very good, offering alternatives that the consumer could pursue.”