Loretta Sanchez works across the aisle to help home owners with home mortgage amendment

Provision encourages banks to provide loan modifications

WASHINGTON, D.C. — The House Majority approved an amendment yesterday introduced by Congresswoman Loretta Sanchez (CA-47) to help struggling families stay in their homes.  The amendment encourages banks to provide loan modifications and foreclosure prevention help to qualifying homeowners. 

Loretta Sanchez

Congresswoman Loretta Sanchez

Rep. Sanchez’ amendment (H.R. 839) was accepted by House Republicans and included in the final bill, which passed the House last night by a vote of 252-170.  The bill now goes to the Senate.

H.R. 839, the Home Affordable Modification Program (HAMP) Termination Act, seeks to end critical assistance to help homeowners avoid foreclosure.  Although her amendment was accepted, Rep. Sanchez urged her Republican colleagues in Congress to reconsider their bid to eliminate HAMP, which has already helped nearly 600,000 families stay in their homes, and instead make improvements to the program.

“With the recovery just beginning to take hold, Republicans should not cut off a lifeline to responsible homeowners struggling to keep up with their mortgage payments,” said Rep. Sanchez.  “Even though I do not agree with the elimination of the home loan modification program by Republicans, I am hopeful that my amendment shows the importance of both the private and public sectors in finding a solution to help even more families in Orange County and across the country stay in their homes.”

Congresswoman Loretta Sanchez is proud to represent California’s 47th Congressional District, which includes the cities of Anaheim, Garden Grove, Santa Ana, and parts of Fullerton in Orange County.  She serves as Ranking Member of the House Armed Services Subcommittee on Strategic Forces and a senior member of the Committee on Homeland Security. Rep. Sanchez is also a member of the fiscally conservative Blue Dog Coalition and sits on the bipartisan, bicameral Joint Economic Committee.