Congressman Mahoney is fighting to preserve the dream of homeownership for Floridians.  Mahoney has co-sponsored and supported several pieces of fiscally responsible legislation supported by the Federal Reserve Chairman Bernanke that will help get our economy back on track. 

Facing Foreclosure? 

• HOPE for Homeowners Program
  
  This program allows people to re-finance into an FHA mortgage if they are in danger of foreclosure and meet certain requirements.  To learn more, please click here . 
• Florida Attorney's Saving Homes (FLASH)
  In an effort to assist Floridians fight back against the foreclosure crisis that has hit the state, The Florida Bar, The Florida Bar Foundation, Florida Legal Services Inc. and the Real Property Probate and Trust Law Section of The Florida Bar, have launched an effort called Florida Attorneys Saving Homes. A toll-free hot line (866-607-2187) has been set up and will take calls from 10 a.m. through 4 p.m. Monday through Friday. Callers who fear that they soon won't be able to make their mortgage payments or who have already missed payments but are not yet in foreclosure are urged to call.  For more information, click here .
• Homeownership Preservation Foundation
  If you are facing foreclosure on your home, free financial counseling is available at 1-888-995-HOPE. This 24-hour hotline is provided by the Homeownership Preservation Foundation, a nonprofit organization working with local governments, borrowers and lenders to assist residents faced with foreclosure.
• US Department of Housing and Urban Development
  A list of local financial counseling agencies approved by the U.S. Department of
  Housing and Urban Development (HUD) is also available at www.hud.gov or by calling 1-800-569-4287. Remember, if you risk foreclosure on your home, getting help early can mean the difference between keeping and losing your home.

Ten Tips for Avoiding Foreclosure

Useful information on refinancing (HUD)

Buying a new home

Nine steps to buying a new home (from the U.S. Department of Housing and Urban Development).

HUD-approved housing counselors near you

Common questions from first-time home buyers

Other Useful Links:

U.S. Department of Housing and Urban Development (HUD)

HUD in Florida

Congressman Mahoney's Legislative Work to Address the Housing Crisis 

Congressman Mahoney supported this legistion, comprised of several measure that will help families become first-time homebuyers, assist existing homeowners, help other families facing foreclosure keep their homes, and help stabilize property values in neighborhoods harmed by high foreclosure rates. As most Americans' primary investment is their home, ending the foreclosure crisis is vital to the American economy's recovery.

Congressman Mahoney spoke on the floor to support the American Housing Rescue and Foreclosure Prevention Act of 2008, which passed the House of Representatives on May 9, 2008.  Click Here to See Congressman Mahoney's Speech

The measures include:

1)    The Housing Assistance Tax Act of 2008: (H.R. 5720) Congressman Mahoney is an original co-sponsor of this legislation with Ways and Means Chairman Charles Rangel (NY), which provides:

2)    The Neighborhood Stabilization Act of 2008: Congressman Mahoney is an original co-sponsor of this legislation, which would establish a $15 billion, HUD administered loan and grant program for the purchase and rehabilitation of owner-vacated, foreclosed homes to stabilize neighborhoods in cities facing high foreclosure rates.

3)    FHA Housing Stabilization and Homeownership Retention Act: (H.R. 5830) Congressman Mahoney has co-sponsored this legislation, which aims to expand the FHA program to help refinance at-risk borrowers into viable mortgages. Earlier in the week, the Financial Services Committed adopted Mahoney's amendment to this act, which will work to ensure that homeowners facing foreclosure receive counseling that could help them keep their homes.

4)    Preserving the American Dream for Our Nation's Veterans:  Mahoney supported this provision, which increases the Veterans Administration Home Loan limit in high-cost housing areas so that veterans have more homeownership opportunities and helps returning soldiers avoid foreclosure by lengthening the time a lender must wait before starting foreclosure.

5)    Expanding American Homeownership Act of 2007: (H.R. 1852) Mahoney supported this legislation, which helps borrowers who have defaulted on high-interest predatory loans refinance into more affordable mortgages

6)    Federal Housing Finance Reform Act (GSE): (H.R. 1427) Mahoney supported this legislation, which strengthens regulations of Fannie Mae and Freddie Mac and raises their loan limits to increase liquidity in the mortgage market. It also creates a new fund to boost the nation's stock of affordable rental housing

In addition to today's legislation, Congressman Mahoney has authored and supported the following legislative initiatives designed to stabilize the housing market and strengthen the economy, including:

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