Posts tagged ‘foreclosure’

June 21, 2009

A letter to Corrections Departments

As this society tries to cope with the consideration that foreclosure is the leading reason that we are facing such an economic hassle, one may consider excepting new practices to keep our banks from continuing to turn up-side.

Are prison system is being over run with people that have committed crimes that are being warranted with extensive time and not giving them the consideration of being redeemed for their behavior. As this economic crisis increases, a proposal to aid those that are upon re-entry into our society of productive and innovative citizens has been considered as america tries to keep its people housed.

This effort need exposure to how the corrections system of our state handles those that might be facing difficulties approaching housing once released. Background checks, a formula to negate the type of crime committed, available supplies and money that the local service providers are allotted are considered when approaching the reasoning behind how this system may be approached as the effort of affordable housing is reached.

The funding consideration is being delivered into this approach, however, the individual approach of how to promote and influence this effort is the issue at hand. We must remember that there are situations in which a prisoner has become employed while serving time and upon release need such an effort in the consideration of aiding those upon re-entry a supportive approval towards adequate housing as a primary function to becoming productive citizens.

Consider your corrections departments and ask how to aid in this effort as our housing economy takes strides towards an improved system of expectable affordable options for all classes of americans rather low-income, those facing foreclosure, or those upon re-entry of this compassionate society of humanitarians.

June 18, 2009

Mortgage Reform and Anti-Predatory Lending Act

Dear Mr. Shaw:

Thank you for contacting me regarding H.R.3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. I appreciate your thoughts and the opportunity to respond.

As you know, this legislation amends the Truth in Lending Act. The bill would establish a national minimum lending standard, while making companies that back risky mortgages liable when financial markets deteriorate. If passed the bill would create a nationwide mortgage licensing system. Lenders would be prohibited from directing consumers into loans they are unlikely to be able to pay back. Lastly, the bill prohibits lenders from collecting excessive fees or practices that may lead a barrower to foreclosure, as well as prepayment penalties and forcing customers to participate in binding arbitration.

I made a speech on the Senate floor to address the sub-prime mortgage industry, text of this speech can be found on my website through the following link, http://isakson.senate.gov/floor/2007/032907subprime.htm. It is my opinion that we do not need to overreact to what is going on in the sub-prime mortgage industry, rather we should be correcting the mistakes in the industry such as implementing stricter underwriting and documentation standards in order to qualify for these loans. Rest assured, I will continue to closely monitor this situation, and thank you again for contacting me with your thoughts on this issue.

Thank you again for contacting me. Please visit my webpage at http://isakson.senate.gov for more information on the issues important to you and to sign up for my e-newsletter.

Sincerely,
Johnny Isakson
United States Senator

June 17, 2009

Are you ready for Hurricane season?

Dear Aaron:

Thank you for contacting me to express your opinion regarding H.R. 1227, the Gulf Coast Hurricane Housing Recovery Act of 2007. I appreciate you taking the time to share your thoughts on this matter.

As you are aware, Representative Maxine Waters introduced H.R. 1227 to address the housing shortages and needs of residents displaced by Hurricane Katrina. This bill transfers $1.2 billion from FEMA to the Housing and Urban Development Department’s program to help communities restore, rebuild and provide housing for victims of the 2005 hurricanes. The measure prohibits the demolition of New Orleans public housing units damaged by Hurricane Katrina until a plan is developed to replace them, and gives displaced public housing tenants the right to return to their former neighborhoods or one as close as possible.

Since the devastation of hurricanes Katrina and Rita, the Federal Government has committed more than $110 billion to support the Gulf Coast; specifically $16.7 billion for the Community Development Block Grant (CDBG) Program. In addition, individual states were asked to submit to the Department of Housing and Urban Development (HUD) detailed state plans outlining how they intended to use the funds.

On March 21, 2007, this bill passed the United States House of Representatives by a vote of 302-125. I opposed the measure because this bill mandates the reconstruction of a previously flawed public housing system in New Orleans , rather than addressing root problems and looking for new solutions. I am deeply concerned about permanently extending a flawed voucher system which would require HUD to provide tenant replacement vouchers for all public housing units not brought back on line, including those slated for demolition prior to the storms.

This legislation is now pending before the United States Senate. Rest assured that I will keep your views and thoughts in mind should this legislation come back to the House of Representatives for further consideration.

Again, I want to thank you for taking the time to contact me. Please feel free to contact me if I can be of any further assistance on this matter or if you would like additional information on this topic or other issues facing Congress, please visit my website at http://crenshaw.house.gov .

Sincerely,

Ander Crenshaw

Member of Congress