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555 Dirksen Office Building
Washington, DC 20510
Ph: 202.224.6342
Fax: 202.224.1100
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Raleigh Office:
310 New Bern Avenue
Suite 122
Raleigh, NC 27601
Ph: 919.856.4630
Toll Free: 866.420.6083
Fax: 919.856.4053
Salisbury Office:
225 North Main Street
Suite 304
Salisbury, NC 28144
Ph: 704.633.5011
Toll Free: 866.420.6084
Fax: 704.633.2937
Western Office:
401 North Main Street
Suite 200
Hendersonville, NC 28792
Ph: 828.698.3747
Fax: 828.698.1267
Eastern Office:
306 South Evans Street
Greenville, NC 27835
Ph: 252.329.1093
Fax: 252.329.1097
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Speeches
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DOLE REMARKS TO GREENVILLE WORKSHOP ON MAKING HOMEOWNERSHIP A REALITY
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August 28th, 2007 - Thank you ladies and gentlemen for that wonderful, warm welcome. And thank you Mayor Parrott for those kind words of introduction. It’s always a pleasure to be in Greenville. As you know, I chose Greenville as the location for my eastern regional office. I’m sure many of you know Janet Bradbury, who works here in my local office and travels throughout eastern North Carolina. And Britt Jones, who helps Janet in my office. They’re my “eyes and ears” on the ground, and they do a terrific job for me everyday.
We also have a special guest from Washington with us today – Roy Bernardi is the Deputy Secretary at HUD, and we look forward to hearing from him in a few minutes. Roy, welcome to North Carolina – we’re excited to have you here.
Now folks, get ready because I’ve got a long list here. My heartfelt thanks to today's workshop partners: the Mid-East Commission, the North Carolina Association of Regional Council Directors, the Southeastern Economic Development Commission, and the Economic Development Administration of the U.S. Department of Commerce. I’m also am grateful to USDA Rural Development and John Cooper, the North Carolina Housing Finance Agency, the U.S. Department of Housing and Urban Development, the Greenville Housing Authority and a number of individuals who are generously giving their time and expertise to be part of our program today. The collaborative efforts of these agencies and individuals and my staff have made this workshop possible.
You know, there are far too many folks who believe that homeownership is an impossible dream – that buying a home is just too complicated. There are others who clear the hurdle of purchasing a home only to discover that making mortgage payments and maintaining that home can be a significant challenge. Today’s workshop is designed to help potential homeowners maneuver through the often stressful home buying process, and to provide important information to realtors and local organizations that do such important work assisting people in purchasing and improving their homes.
Today, potential homeowners and realtors will learn about repairing credit, budgeting for a home, understanding and choosing the right mortgage product, navigating the loan application process, choosing the right home and avoiding foreclosure. In addition, housing organizations will hear about a variety of programs that help provide affordable housing to our low and moderate income families, senior citizens and individuals with disabilities.
I simply cannot say enough about the positive effects of homeownership. It is amazing how getting keys to one’s own home is like getting the keys to a better quality of life and a brighter future. Parents who own their homes provide more stable environments for their children. These children do better in school and become more involved in the community. These families are able to build wealth, many for the first time, thereby helping secure funds for retirement and higher education. Families who own their own homes also are more likely to spend the money necessary to properly maintain the home and thus improve the neighborhood. These positive results have a ripple effect throughout the community…and the economy.
Nearly 70 percent of Americans now own their own home, and minority homeownership is at a record high 51 percent. While this is very good news, we must continue to focus our efforts on raising minority homeownership even higher.
We also must take the steps necessary to curb the high rate of foreclosures, in North Carolina and elsewhere in our country. Unfortunately, our state recently ranked 19th in the nation in the number of home foreclosures (for the month of June). That is simply unacceptable, and we can and must do better. As a member of the Senate Committee on Banking, Housing and Urban Development, I am participating in hearings and closely examining the factors, such as abusive lending practices and so-called exotic mortgages, that have contributed to this problem. Many think revitalizing and modernizing the Federal Housing Administration may be the best hope for keeping distressed borrowers in their homes. I have been working on modernizing FHA, but we don’t know yet what the final product will look like. Of course workshops like this one today are important to helping folks understand the financial responsibilities of homeownership and how to avoid the pitfalls that can lead to foreclosure.
I have also been working with the Banking Committee to strengthen the financial integrity of the housing sector by reforming the Government Sponsored Enterprises, or GSEs – Fannie Mae and Freddie Mac, that as you know have had some real accounting scandals. Fannie and Freddie purchase the mortgages made by brokers, banks and finance companies for the secondary mortgage market. I recently reintroduced legislation to create an independent world class regulator to oversee the safety and soundness of Fannie Mae and Freddie Mac.
My staff and I will continue to do everything possible to help more North Carolinians become homeowners, to help homeowners stay in their homes, and to help those who assist folks in the home buying process. I know that here in eastern North Carolina, there are some unique concerns, including a sensitive environment and rising land and home costs, and my staff and I stand ready to work with you in trying to address these challenges. Please contact my office if there is anything we can do for you specifically.
Once again, thank you again for being here today, and for taking the initiative to learn more about homeownership. I’m thrilled to see this crowded room. God bless each of you, our great state, and this land of the free, America!
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28th - current Speech
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 : radio clip |  : television clip
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