Issue Position: Housing

Issue Position

We are emerging from one of the greatest economic crises in our country's history--a crisis that began one lousy mortgage at a time. But in spite of the almost hundreds of thousands of families here in Tennessee who are underwater in their mortgages and the tens of thousands of families who have lost their homes through foreclosures, we still haven't seen serious action to get the housing market working again.

We can't restart our economy unless we address our housing challenges. As decent, hard-working Americans lose their homes to foreclosure or find themselves too deep in debt, they are less likely to spend--and that is bad for the economy as a whole.

We must have a housing policy that fires on all cylinders: principal write downs, refinancing options for homes that are underwater, cash for keys, short sales. We have to take serious and hard steps to get the housing market to level out so that we can continue to rebuild our economy.

Source