Housing

Congresswoman Loretta Sanchez is committed to supporting initiatives to ensure families are able to avoid foreclosure and keep a roof over their heads.  With foreclosure rates at an all time high, Congresswoman Sanchez believes it is imperative that the government continue programs that aim to keep families in their homes.

Congresswoman Sanchez is particularly supportive of the Neighborhood Stabilization Program (NSP) and Home Affordable Modification Program (HAMP).  NSP provides funds to local communities to purchase foreclosed or abandoned properties, and HAMP provides financial incentives to mortgage servicers that provide loan modifications to troubled borrowers.

Bills to repeal these and other housing program initiatives to were passed in the House of Representatives with strong opposition from Congresswoman Sanchez.  In an effort to prevent the repeal of these key programs, Congresswoman Sanchez offered amendments to every bill to hold Members of Congress accountable for increased foreclosure rates. In fact, one of her amendments was added to the bill repealing HAMP, and was aimed at encouraging banks to work with homeowners to provide loan modifications for and assist homeowners and prospective homeowners with foreclosure prevention programs and information on loan modifications.

If you are struggling to keep your home and need assistance, please contact my office or click here to send me a message.