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U.S. Reps. Peters, Campbell and Ellison Introduce Bipartisan Plan to Help Underwater Homeowners Stay...

Washington, D.C. - June 11, 2012 - (RealEstateRama) -- U.S. Reps. Gary Peters (D-MI), John Campbell (R-CA) and Keith Ellison (D-MN) introduced the Preserving American Homeownership Act of 2012. The crux of this legislation is the creation of a principal reduction program to allow eligible homeowners to have their underwater properties revalued at a more accurate level. By implementing this program, struggling homeowners could qualify for more affordable monthly mortgage payments which would cut foreclosure rates and strengthen the housing market. And by using a shared appreciation model, taxpayers would receive a portion of future revenues from the sale of the house.

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Napolitano’s Statement on Trump Administration’s Attack on Clean Water

Rep. Grace F. Napolitano (D-El Monte), issued the following statement after the Trump administration announced a new proposal—claiming it to be pro-industry—which would weaken federal clean water rules, putting at risk the health and safety of millions of Americans