On the recordJuly 29, 2010
I thank the chairman for yielding. Actually, I do oppose this. I agree with the idea of putting more money into where you would like to have the money go. My concern is that this is taking money out of reverse mortgages for seniors, and while the President requested $250 million in his budget, it is funded at $150 million. This would take another 10 out of that. The problem is that if there is increased demand, if more seniors want to have reverse mortgages, then it simply cannot happen without the funding that's there. So I would just oppose it, not because of the purpose where you would like to have the money go, but we're taking money away from seniors here who may, in fact, want to have a reverse mortgage on their home.
