Housing amendment could save estimated 8000 Iowa homes

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Uploaded by on May 1, 2009

Senator Tom Harkin spoke on the floor of the Senate on Thursday April 30, 2009 in support of an amendment offered by Senator Dick Durbin to the Helping Families Save Their Homes Act that would offer incentives for the creation of voluntary mortgage modifications. The amendment would prevent 1.7 million mortgages from falling into foreclosure and would preserve over $300 billion in home equity for neighboring homeowners who have made each of their own mortgage payments on time. According to estimates, approximately 8,089 homes in Iowa and $259,474,000 in neighborhood credit would be preserved.

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