Too many families across the nation are feeling the pain of the housing crisis and they need our help now.

To help these families, Republican offered the Security Against Foreclosure and Education (SAFE) Act of 2008.  In this proposal — which I coauthored — we proposed help for families to refinance distressed subprime mortgages; help for neighborhoods for the purchase of foreclosed homes; help for returning war vets coming home to the threat of foreclosure; and reform of FHA.

Those proposals form the core of the bipartisan housing relief proposal that we are now negotiating on the Senate floor.

Thanks to Senators Dodd (D-Conn.) and Shelby (R-Ala.) we have a bipartisan relief package for families and neighborhoods.  They took proposals from our SAFE Act, housing proposals from our Democratic colleagues, and provisions from the Finance Committee to make this housing relief package.

This bipartisan housing relief bill represents the needs and values of our families and neighborhoods.

It does not provide for any government buyouts of mortgages as some proposed. It does not provide for refinancing of any vacation or investment homes as some fear.

Together, our housing proposal will help families and neighborhoods across this country get through this crisis.

This entry was posted on Thursday, April 3rd, 2008 at 4:42 pm and is filed under Politics, Economy/Budget .