Political Quotes

“I thank the gentleman for yielding. My colleague from New York and many of the colleagues from that side of the aisle have been saying that if we end this program, there will be nothing. That simply isn't true. Of the 4.1 million mortgage modifications that were completed, 3.5 million were done by the private sector with no government program and not a dime from the taxpayers. There's also the Home Affordable Refinance Program, or HARP, for homeowners with government-backed Fannie Mae and Freddie Mac loans. And don't forget about the Hardest Hit Fund. According to the Treasury Web site, the President established this in February, 2010, to provide targeted aid to families in States hard hit by the economic and housing market downturn. That includes $1.5 million that went to the hardest hit States--California, Arizona, Florida, Nevada, and Michigan. Another $600 million went to another set--North Carolina, Ohio, Rhode Island, and South Carolina. And finally, $2 billion was distributed to 17 States and the District of Columbia. {time} 1650 In 2008, $300 million in guarantees was committed for HOPE for Homeowners, a voluntary FHA program. Only 200 loans have been modified in this program, but it does exist; $475 million has been appropriated to Neighborhood Works for foreclosure counseling for homeowners. Finally, there are countless local, State, and private sector initiatives. We have to stop funding programs with money that we don't have. Let's make that clear.…”