Emergency Mortgage Relief Program Termination Act

Floor Speech

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Ms. HIRONO. Madam Chair, I rise in strong opposition to H.R. 836, the Emergency Mortgage Relief Program Termination Act.

The Emergency Mortgage Relief Program, also known as the Emergency Homeowners Loan Program, EHLP, was established to help responsible homeowners who, through no fault of their own, are unemployed or underemployed or suffer from a medical condition and can no longer make their mortgage payments.

The $1 billion relief fund provides these homeowners with zero-interest loans, credit advances, or payments. Up to 30,000 distressed homeowners at risk of foreclosure could be assisted by this program. The Department of Housing and Urban Development, HUD, is working to implement EHLP as soon as possible to assist homeowners in the 32 states that are not participating in the Hardest Hit Fund, HHF, a successful $7.6 billion fund that has been made available to the 18 states that have been hardest hit by the housing crisis. EHLP is also modeled after a highly successful program in Pennsylvania. Simply terminating EHLP before it has had a chance to take effect and help the homeowners who need it the most is unconscionable.

With 13.7 million people unemployed in our country, I am sure that all of my colleagues have constituents who are unemployed or underemployed and are in need of a lifeline.

I met a couple who work as substitute teachers in Kona on Hawaii Island. As the economy worsened, it became harder and harder for them to find steady work. Despite applying for numerous jobs, they remained underemployed. For more than a year, they tried to work with their mortgage lender to avoid delinquency and foreclosure, submitting all of their financial documentation many times. The lender clearly was not motivated to help them. It was only through the support of the Hawaii HomeOwnership Center, a federally funded nonprofit in Hawaii that provides foreclosure prevention assistance, in addition to an inquiry from my office that the couple was able to get forbearance and a permanent modification. To top it off, the husband received a good job offer. But, this couple will never forget the stress and anxiety of fighting to keep their home.

Not all the stories of struggling homeowners have a happy ending. In fact, many of them do not. Programs like the Emergency Homeowners Loan Program are a lifeline for these individuals and families. This bill is another example of Republicans turning their backs on middle class Americans.

I urge my colleagues to help struggling homeowners throughout the country by supporting programs like EHLP and voting against this measure.

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