February 18, 2009

Today, Rep. Ed Perlmutter, (CO-07), a member of the House Financial Services Committee, issued the following statement concerning President Obama’s new Housing plan announced today.

“Today, the Administration announced its new plan to aid homeowners who are facing foreclosures. Hardworking Coloradans will benefit greatly from this new plan.

The foreclosure crisis is at the center of the economic storm. Colorado’s 7th Congressional District has some of the highest mortgage foreclosure rates in the country. The Administration’s new plan will help keep people in their homes by providing new refinancing tools, funding to help servicers restructure mortgages with high loan to value ratios, and providing national foreclosure guidelines. These new proposals will allow cities and neighborhoods to stabilize and lead to an increase in home values.

The goal of this new plan is to take care of homeowners before they default on their mortgages and go into foreclosure. This plan is a responsible way to ease the squeeze and keep so many hardworking Americans and Coloradans in their homes.”

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