[Congressional Record (Bound Edition), Volume 154 (2008), Part 6]
[House]
[Page 7994]
[From the U.S. Government Publishing Office, www.gpo.gov]




             VOTE ``YES'' ON THE DEMOCRATIC HOUSING PACKAGE

  (Mr. SIRES asked and was given permission to address the House for 1 
minute.)
  Mr. SIRES. Mr. Speaker, today the House will begin debate on the 
comprehensive housing package that will help families keep their homes, 
prevent foreclosures in the future, and help the recovery of 
communities left almost vacant by the housing crisis. Today, more than 
3.5 million homes sit empty in America, and if Washington does not act, 
another 2 million Americans are expected to lose their homes in the 
coming months.
  The Democratic housing package will provide mortgage refinancing 
assistance to families so they can stay in their homes. We do this by 
expanding the FHA program so the borrowers in danger of losing their 
homes can refinance into lower-cost government-issued mortgages. The 
housing package also provides $15 billion in loans and grants to States 
so they can acquire foreclosed homes and rehabilitate properties in 
areas hit hard by the housing crisis.
  Mr. Speaker, this housing package is the best response to our 
Nation's housing problem.

                          ____________________