Ohio Ranks Among Top Five States Nationwide For Highest Total Home Foreclosures
WASHINGTON, DC – U.S. Representative John Boccieri (D-Alliance) today voted to help families stay in their homes and avoid foreclosure. Boccieri voted for the Helping Families Save Their Home Act which passed the House with a vote of 243 to 191. Boccieri issued the following statement:
“Today’s great recession is rooted in the housing crisis and Ohio suffers disproportionately with home foreclosure. To successfully rebuild our economy, we must address the crisis in our housing market. We began that process today by giving responsible homeowners the tools they need to avoid foreclosure.
“The bill would help refinance loans into lower interest rates for some families in traditional mortgages who owe more on their house than its current appraised value; modify loans for some families stuck in sub-prime mortgages; give bankruptcy judges the chance to modify existing mortgages; and give lenders more confidence to modify loans by protecting them from some lawsuits.
“With more than 6,400 homeowners filing for foreclosure last year in the 16th Congressional District, the majority of them in Stark County, this bill would help prevent further foreclosure.
“The success of our communities begins at home. We all stand to lose if we don’t stop the decline in housing prices. Stabilizing the housing market is key to rebuilding America’s economy.”
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