[Congressional Record Volume 157, Number 41 (Thursday, March 17, 2011)]
[Extensions of Remarks]
[Pages E527-E528]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        THE HOME AFFORDABLE MODIFICATION PROGRAM TERMINATION ACT

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                       HON. EDDIE BERNICE JOHNSON

                                of texas

                    in the house of representatives

                        Thursday, March 17, 2011

  Ms. EDDIE BERNICE JOHNSON of Texas.
  Mr. Speaker, I rise in opposition to H.R. 839, the Home Affordable 
Modification Program Termination Act.
  The Home Affordable Modification Program is designed to help 
struggling homeowners avoid foreclosure by providing homeowners with 
financially responsible and affordable loans.
  The program provides incentives to loan investors and servicers in 
consideration for the loan modifications, and incentives for homeowners 
to continue to make on-time payments.
  At the end of January, there were 539,493 homeowners with permanent 
Home Affordable Modification Program loan modifications.

[[Page E528]]

  New permanent Home Affordable Modification Program modifications have 
averaged around 29,000 per month over the last six months of 2010.
  This program saves homeowners on average 527 dollars per month.
  If this bill is passed it would deny modification loans to more than 
a half million homeowners at risk of foreclosure.
  I encourage my colleagues to stand up for homeownership in your 
districts and vote against this irresponsible bill.

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