Press Releases

In July, the House of Representatives passed the American Housing Rescue and Foreclosure Prevention Act. This legislation established the HOPE for Homeowners Program, which will help 400,000 families keep their homes and maintain neighboring property values.

Borrowers who are in danger of losing their homes may refinance into a government backed, fixed rate mortgage that is insured by the Federal Housing Administration. Lenders will be required to revalue the home to ensure that they do not profit at taxpayer expense.

Today Congressman Mike Thompson (D-CA) released the following statement following the final vote on the Emergency Economic Stabilization Act:

Mike Thompson (D-CA) released the following statement:

This proposal is clearly one of the most critical issues to come before Congress during the ten years I've had the honor to serve our district. Since this proposal was announced last Sunday, nearly all of my time has been spent working to figure out this crisis and the possible solutions.