On the recordMarch 9, 2011
Mr. Speaker, today I rise to highlight the foreclosure crisis and recognize the thousands of distressed families in my district and across the country who continue to battle foreclosure. In Maryland our foreclosures approached nearly 800,000 in the fourth quarter of 2010. This crisis hits particularly hard in my district, where we have about 40 percent of our foreclosures statewide. The foreclosure prevention and mitigation programs the Republican majority wants to terminate this week have helped thousands of hardworking families to stay in their homes and mitigated the effects of declining property values in neighborhoods across the country. Now, I know they're not perfect, but terminating these programs does not one single thing to spur the economy or protect middle class families in need. In fact, the effect is quite the opposite. My colleagues claim that the programs haven't delivered on their promises. So what? What about the families who have benefited from the programs? What about the 1.2 million families that will face foreclosure this year? This is another case of trying to throw the baby out with the bath water. Enough of that already. It's a simple question: Whose side are you on? Families, workers, working families, protecting their homes and communities; or are you on the side of the banks that want to take their homes? ____________________





