"Home ownership has always been one of the foundations of the American Dream, but for many that dream is slipping away. In the wake of the housing crisis, I believe the government can and must do more to help homeowners facing foreclosure."
- Rep. Judy Chu
The foreclosure crisis and economic downturn have had a devastating impact on American families. Because of shoddy business practices and enormous risks taken by big banks, our housing and financial systems collapsed. And in the wake of this destruction, millions of Americans have lost their jobs, their homes and their quality of life.
Given the scope of the problem, government foreclosure relief programs alone just aren't enough. We should do more - more to fix the housing market and more to create jobs. Putting people back to work will do more to right our economy, help people pay their mortgages and get the banks lending again.