Political Quotes

“Mr. Chairman, I rise today in support of H.R. 839, the HAMP Termination Act. I was sent to the Nation's capital like so many Members of the 112th Congress, to do something about cutting back on wasteful Washington spending, to do something about the $14 trillion national debt. And in pursuing this goal, we have made many difficult decisions about funding government programs. At a time when families and businesses across Pennsylvania are being asked to do more with less, we cannot continue ineffective Federal spending. Like so many programs hatched in Washington, HAMP has been one of those programs that, while well intentioned, has grossly missed its mark. Established in 2009 to assist homeowners seeking to avoid foreclosure, of the $30 billion allocated to the program, only a fraction has been spent. And of the homeowners expected to be helped through the program, only one-eighth have seen any permanent modification. Despite the fact that U.S. taxpayers have given lenders an average of $20,000 for each participating homeowner, there is nothing that prevents a lender from still foreclosing after the modification. That means that the bottom line of the HAMP program is this: False hope for homeowners who see the Federal Government send thousands to big lenders only to lose their homes a few months later.…”