STATEMENT: Housing Expert Julia Gordon on Tonight’s State of the Union Address
Contact: Katie Peters
Washington, D.C. — In reaction to President Barack Obama’s State of the Union address tonight, Julia Gordon, Director of Housing Finance and Policy at the Center for American Progress, released the following statement:
We welcome President Obama’s comments regarding the importance of assisting homeowners, particularly his support for programs to enable more homeowners to refinance their homes. Allowing more underwater homeowners to refinance their mortgages at today’s low rates will support the housing recovery, provide much-needed financial relief to strapped homeowners, and boost consumer demand, simultaneously strengthening the middle class and stimulating economic growth.
Furthermore, we agree with the president that mortgage regulations governing lenders and securitizers should line up with each other to avoid constraining access to affordable credit.
Finally, we fully support the call to rebuild hard-hit neighborhoods, a task that will require the cooperation and participation of mortgage investors, municipalities, financial institutions, and regulators. Effective loan modifications, particularly principal reduction, can prevent home vacancies altogether, but in situations where that is not possible, short sales or long-term lease arrangements can help limit the damage to communities.
To speak with an expert on this topic, contact Katie Peters at firstname.lastname@example.org or 202.741.6285.
- A Strong Housing Market Is Critical to Our Economic Recovery
- The Housing Market Is on the Mend, and the Government Deserves Some Credit
- It’s Time to Talk About Housing
- Time to Ramp up Refinancing
- Tossing a Lifeline to Underwater Homeowners
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or email@example.com
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or firstname.lastname@example.org
Print: Allison Preiss (economy, education)
202.478.6331 or email@example.com
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or firstname.lastname@example.org
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or email@example.com
Print: Beatriz Lopez (Center for American Progress Action Fund)
202.741.6255 or firstname.lastname@example.org
Spanish-language and ethnic media: Rafael Medina
202.478.5313 or email@example.com
TV: Rachel Rosen
202.483.2675 or firstname.lastname@example.org
Radio: Sally Tucker
202.481.8103 or email@example.com