Millions of Americans are losing their homes in the worst foreclosure crisis I can remember, and the Bush Republicans in Washington are content to sit on their hands. As they do nothing, tumbling housing prices push our fragile economy closer and closer to the brink of recession.
That's not good enough for the American people, so Democrats are doing everything we can to rush federal assistance to people devastated by the mortgage crisis. But again this week George Bush threatened to veto House legislation to provide immediate assistance to those in need. It's just the latest example of our opponents' stubborn obstructionism on this critical issue.
You can help us change their minds and pass comprehensive foreclosure relief. We have to show our opponents that the American people are serious about solving these problems. The best way for you to help is to join our efforts today.
Click here to tell Senate Republicans to stop obstructing our efforts to prevent foreclosures. Americans are losing their homes and they need our help.
Remember, it was Republican economic failures that caused this crisis in the first place. They did away with government oversight and removed any accountability from the private sector, and then they acted surprised when Countrywide became this year's Enron.
Now our economy is on the very brink of recession and foreclosure rates have nearly doubled in the last year. Over 2 million Americans are at risk of losing their homes and losing their grip on the American Dream. We can't afford to sit around and wait for these issues to sort themselves out.
Democrats have united around a few core principles that should be a part of any plan to address this critical issue.
- We would rush emergency federal foreclosure prevention resources to nonprofit housing groups that are on the frontlines, fighting to keep families in their homes.
- Our plan would provide even more funding to city and state agencies working to help borrowers save their houses.
- Senate Democrats would enact tough new government oversight to end predatory lending.
- Finally, our plan would provide new assistance to creditworthy homeowners who need help refinancing now, before they get caught in the mortgage crunch.
These common sense solutions aren't radical, they're just what's necessary. This kind of thing has always been what the Democratic Party stands for. When people are struggling, helping them out is just the right thing to do. Beyond that, the mortgage crisis affects nearly every aspect of an already sluggish economy. Consumer spending is down and credit is drying up that would support new businesses, student loans, and pretty much anything else that could jumpstart the economy. Amazingly, Republicans in Congress don't share our sense of urgency. How else do you explain their stubborn refusal to help us pass reform? Let's show them that the American people won't accept any more obstructionism. Click here to tell Senate Republicans to stop obstructing our efforts to prevent foreclosures. Americans are losing their homes and they need our help.
These foreclosures hurt us all. They damage an already teetering economy in a downward spiral of falling home values and decreased tax bases. Worse, they put our friends and neighbors out of their homes. It's not right, so Senate Democrats are standing up against it. Republicans are standing in our way. Please take action today. Sincerely,
Chuck Schumer
