My senator is a Socialist -- surprised? Don't be. She's from CA.Submitted by IamVoting4RonPaul on Fri, 04/18/2008 - 00:26
Sen. Boxer's efforts to solve the mortgage crises (partial email):
"I have supported several sensible steps to ease the mortgage crisis. On April 10, 2008, the Senate passed H.R.3221, the Foreclosure Prevention Act of 2008. This bill contains $150 million for foreclosure counseling, nearly $4 billion in funds to rehabilitate foreclosed properties through Community Development Block Grants, and $10 billion for mortgage revenue bonds for states to extend lower-cost loans to distressed borrowers. H.R.3221 also amends the Truth in Lending Act to improve the disclosure of loan terms to borrowers upon original application or refinancing of a loan.
Previously, Congress approved an additional $180 million for housing counseling and a temporary increase in the size of loans that Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) can back.
Though these actions are a good start, we need to do more. That is why I am co-sponsoring several bills that would regulate the mortgage industry, prevent some of the worst lender abuses from reoccurring, and promote sustainable and affordable homeownership."