WASHINGTON – Congresswoman Lynn Jenkins made the following statement after the House of Representatives voted on H.R. 1106, the Helping Families Save Their Homes Act of 2009.

“More than 90 percent of homeowners have played by the rules and paid their monthly mortgages. It is completely unfair to force them to subsidize lenders who made risky loans or people who knowingly got in over their head buying a home they couldn’t afford.

 “The bankruptcy cram-down provisions included in this bill would reward those bad behaviors and increase mortgage costs for all Kansans. Thanks to this misguided provision, folks who knowingly bought houses beyond their means will now be allowed to file bankruptcy, get their mortgage payments reduced, and leave their rule-following neighbors holding the bag with even higher interest rates. This cram-down rewards both the folks who bought homes they couldn’t afford and also the irresponsible lenders who approved those loans.

“These are tough times, but there is a difference between helping those who honestly need assistance and merely throwing taxpayer money after bad behavior. I supported an alternative that ensured taxpayer dollars would not be used to incentivize bad actors. Unfortunately, that alternative was blocked by the Democrat majority in the House.

“This legislation is not the solution to the housing crisis. Folks in the Second District have bailout fatigue, and it is wrong for Speaker Nancy Pelosi to continue asking them to pay for the mistakes of others.”