Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2014

Floor Speech

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Ms. VELÁZQUEZ. Mr. Chairman, families that receive housing counseling and home inspections make better decisions when it comes to purchasing or refinancing a home. They understand the financial burdens they can reasonably assume and what future costs they may incur due to homeownership, reducing their individual risk of foreclosure in the future. Fewer individual foreclosures also benefit surrounding communities; home prices remain stable, blight is reduced, and more families remain in place. That is why I have been relentless in urging HUD to improve the educational resources available to borrowers when purchasing or refinancing a home.

Currently, HUD is working to improve its certified housing counselor training for potential and existing homebuyers, as well as develop home inspection educational materials for consumers when purchasing a home. Unfortunately, the issuance of these resources has been delayed. To date, only a few of the housing counseling documents have been released for public comment, including the application for the Housing Counseling Federal Advisory Committee and certification for HUD housing counseling.

The legislation before us today, H.R. 2610, the Transportation, Housing and Urban Development, and Related Agencies Appropriation Act, would reduce funding to finalize these resources at the time they are most needed.

Many low-to-moderate-income homeowners are still struggling to afford their homes. My amendment would provide the additional $10 million necessary to restore housing counseling assistance funding to its FY 2013 level. Funding from HUD's administrative supportive offices account would be used to offset the amendment.

It would not impact any of the transportation or housing programs funding amounts. The net impact is zero on the budget authority, and it would reduce 2014 outlays by $4 million--actually saving the government money over time.

This increased funding would help HUD complete its statutory obligations and start providing housing counseling information to FHA-insured borrowers and other interested families. These resources are essential for educating families about the financial burdens of owning a home, the importance of conducting a home inspection prior to purchase, and informing underwater homeowners of their options to avoid foreclosure. We cannot allow these families to wait any longer for these critical homeownership information resources.

I urge the House to protect families' interests when purchasing a home by voting ``yes'' on this amendment.

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