Fixing our Housing Crisis
Homeownership helps to form the foundation of the American Dream, but that dream is under attack. The housing crisis in our country ripped the bottom out of our economy and left millions of Americans with few other options than foreclosure. Few communities in the United States were hit harder when the housing bubble burst than the San Joaquin Valley. Hundreds of thousands of Valley families lost their homes – often a family’s biggest investment – and entire neighborhoods were economically decimated.
As your representative in Congress, I will do all that I can to cut through the red tape in Washington and connect you with the right resources to help you stay in your home. You can find more information about how I can help by clicking here.
While I will fight as hard as I can to prevent our homes from falling into foreclosure, we need an aggressive and comprehensive national strategy to right the market. For years, both the Bush and Obama administrations have tried and failed to fix the housing crisis. I will continue to push this administration and my colleagues in Congress to take action now.
One important step the Congress could take to stem the tide of these devastating foreclosures is to pass the Housing Opportunity and Mortgage Equity Act (H.R. 363). This legislation would put thousands of dollars in the pockets of millions of families across the country by allowing millions of responsible homeowners to refinance home mortgages at historically low rates. Preventing additional foreclosures would help families rebuild lost savings and wealth and our communities get back on their feet.
Learn more about Congressman Costa's work on housing issues here.