This week, the House will consider major housing that will extend a helping hand to homeowners and communities hardest hit by the mortgage meltdown.
The comprehensive housing measure includes provisions to help at-risk Maryland homeowners and help restore stability to the housing and credit markets – critical to righting the nation’s slumping economy. The House legislation will:
· Help struggling homeowners facing foreclosure by allowing them to refinance into affordable government-backed mortgages
· Provide counseling and legal aid for low-income and minority homeowners
· Prevent neighborhood decline with targeted assistance to states and local government to purchase foreclosed property
· Boost housing resources with tax provisions that offer credits for first-time homebuyers, improve access to low-income housing and allow families to deduct property taxes
· Modernize FHA by expanding access to low-cost loans for more families and seniors
· Reforms GSE entities Fannie Mae and Freddie Mac to strengthen regulation and increase market liquidity.
The House is also anticipated to take up a supplemental war funding bill that includes needed funds for the troops deployed in Iraq and Afghanistan and that will address urgent domestic priorities. The House is also nearing completion on the federal Farm Bill, which includes unprecedented funding for the Chesapeake Bay. A vote on that could come as early as this week.
UPCOMING DISTRICT SCHEDULE
Housing Foreclosure Prevention Workshop. With increasing distress over the slumping housing market and mounting foreclosures, Rep. Hoyer has announced a free foreclosure prevention workshop to brief homeowners on their financing options and assist them in taking steps to avoid foreclosure. The workshop, which will include the participation of many of the areas loan servicers, will be on Friday, May 9, from 9:00 a.m. to noon at the Greater Waldorf Jaycees located at 3090 Crain Highway in Waldorf.
FDA Building Dedication. Also on Friday, Rep. Hoyer will visit the U.S. Food and Drug Administration campus in White Oak, Maryland for the Dedication of Building Fifty-One, the latest completion in the massive consolidation project that Rep. Hoyer was instrumental in helping secure federal support for. Hoyer will arrive at 11:30 a.m. for a tour. The program begins at noon. Also in attendance will be Senators Barbara Mikulski, Benjamin Cardin and Edward Kennedy as well as Congressmen Al Wynn and Chris Van Hollen.
Educators Luncheon. On Monday, May 12 at 12:30 in Prince Frederick Rep. Hoyer will host a luncheon in honor of outstanding educators in the 5th District who have received recognition for demonstrating exceptional talent as teachers and principals in their local school districts. Being honored are the winners of the 2007 Washington Post Distinguished Educational Leadership Award (Principals); the 2008 Agnes Meyer Outstanding Teacher Award; and the 2008 County Teachers of the Year. The event will be at the Momma Lucia Restaurant, 820 Costly Way, Prince Frederick.