Political Quotes

“over 2 million families are going to lose their homes in the next few years. Mr. President, 28,000 of those families are in Illinois. Why? Because they are stuck in bad mortgages. Homeowners across America don't need to hear from me to know that the housing boom has busted. From Wall Street to Main Street, we see the spillover effects on the economy. I am pleased that in Congress we are now talking about how to tighten lending regulations so we don't repeat this type of market meltdown-- and there is certainly more work to be done on that--but in the meantime, millions of families are stuck in the current mess. They need our help. It is true that some families knowingly stretched a bit to buy more house than they should have. But many families were sold mortgages they couldn't afford by unscrupulous brokers. Some families were given faulty appraisals, only to find later that their homes weren't worth as much as they thought. Still other families have been hit with a mountain of excessive fees that have pushed them over the edge. Regardless of the reason, a family pushed into foreclosure is a disaster for the homeowner and the surrounding community, and it is a bad deal for the banks as well. That is why I am introducing the Helping Families Save Their Homes Act, which will help around 600,000 families who have nowhere else to turn to save their homes.”