[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 107 Introduced in House (IH)]






109th CONGRESS
  1st Session
H. CON. RES. 107

Supporting the goal of increased homeownership in the United States and 
  recognizing the importance of homeownership programs, fair lending 
          laws, and fair housing laws in achieving that goal.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 2005

Mr. Hastings of Florida submitted the following concurrent resolution; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
Supporting the goal of increased homeownership in the United States and 
  recognizing the importance of homeownership programs, fair lending 
          laws, and fair housing laws in achieving that goal.

Whereas homeownership is vitally important to families in the United States in 
        establishing financial independence;
Whereas homeownership is the most common means for families in the United States 
        to build wealth and pass that wealth on to the next generation;
Whereas in 2003 the homeownership rate for White Americans was 72.1 percent, but 
        the rate was only 48.1 percent for African Americans and 46.7 percent 
        for Hispanic Americans;
Whereas eliminating the disparity in homeownership rates between white families 
        and minority families is a goal of critical importance and should become 
        a national priority;
Whereas first-time homeowner programs help families who have never owned a home 
        to experience the benefits of homeownership;
Whereas the With Ownership Wealth (WOW) Initiative of the Congressional Black 
        Caucus Foundation helps to prepare African Americans and other 
        minorities to realize the dream of first-time homeownership;
Whereas April 11, 2005, is the 37th anniversary of the enactment of the Fair 
        Housing Act, which is title VIII of the Civil Rights Act of 1968;
Whereas the Fair Housing Act establishes a housing policy in the United States 
        of fair housing opportunities for all persons, without regard to race, 
        color, religion, sex, handicap, familial status, or national origin;
Whereas although equal housing opportunity is a right guaranteed to all persons 
        in the United States, the effort to eliminate discrimination in housing 
        continues;
Whereas numerous communities throughout the United States have designated April 
        2005 as Fair Housing Month;
Whereas the anniversary of the Fair Housing Act and Fair Housing Month provide 
        an opportunity for all persons in the United States to rededicate 
        themselves to the principles of freedom of housing choice and to 
        reacquaint themselves with the rights and responsibilities of fair 
        housing under the law;
Whereas because the policy of fair housing is consistent with the principles of 
        equality and justice for all, the Congress must work to ensure and 
        demand that fair housing is a reality for all persons in the United 
        States;
Whereas the United States, as a Nation and fair society, must fight to eliminate 
        housing discrimination in all its forms;
Whereas predatory lending is the use of abusive home mortgage lending practices, 
        including lending that involves excessive fees, inappropriate penalties, 
        and other unreasonable terms and lending that strips equity from the 
        homeowner;
Whereas predatory lending practices are, unfortunately, much too common in the 
        United States;
Whereas predatory lenders target homeowners who are ``equity-rich'' and ``cash-
        poor'', particularly elderly, low-income, and minority households;
Whereas predatory loans are often made in such concentrated volumes in poor and 
        minority neighborhoods, where better loans are not readily available, 
        that the resulting loss of equity in, and foreclosure on, the properties 
        devastate those already fragile communities; and
Whereas predatory lenders often use high-pressure tactics to charge customers 
        extremely high, unaffordable fees so that the borrower will eventually 
        default on the loan and lose the home, and the lender will profit from 
        the equity in the property: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring),  
That the Congress--
            (1) fully supports the goal of increasing homeownership 
        among families in the United States;
            (2) recognizes the importance of homeownership in families 
        establishing financial independence;
            (3) fully supports programs for first-time homeownership, 
        including the With Ownership Wealth Initiative of the 
        Congressional Black Caucus Foundation;
            (4) urges the Federal Government and State and local 
        governments--
                    (A) to take appropriate actions to encourage 
                homeownership and fair housing practices; and
                    (B) to confront all forms of predatory lending with 
                swift legislative action;
            (5) recommits itself to making fair housing and 
        homeownership a legislative priority in the 109th Congress; and
            (6) urges the President to issue a proclamation encouraging 
        the people of the United States to observe National Fair 
        Housing Month with appropriate ceremonies and activities.
                                 <all>