Democrats make a push for further housing reform to help homeowners who where victims of adjustable and subprime arms, in contrast the Bush administration is hardening its position on the housing issue which could result in up to 2 million Americans losing their homes.

The Bush administration supports voluntary efforts of mortgage banks to help trouble homeowners and supports members of the Hope Now Alliance but is unwilling to go a step further to offer a real solution to Americans in need. Mr. Paulson said the the current market based approach would be enough to save the housing market from serious trouble and that the economy could sustain 2 million foreclosures. He is in no way ready to move forward with any more simultaneous or hope for Americans but would rather have the market adjust and let the forecloses happen.

Ben Bernanke the current chairman of the Fed is still willing to adjust rates lower despite a increase in inflationary pressures in an effort to help the economy and homeowners. There has been a lot of talk on the hill on what should be done to help the average American in need and more often then not no one is really prepared to step in and help, only to offer advice to banks and homeowners that they should play nice with each other and negotiate a deal. Paulson on a positive note did say he would urge lenders to include all borrowers in their mitigation programs not just those affected by subprime arms.

Currently the new Presidential hopefuls have great plans to help the average homeowner stay in their homes. But despite that they have great ambitions they first must with the office and then seek approval for their plans which unfortunately could put a final solution on the table by this time next spring at what is expected to be the peak of foreclosures and the bottom end of housing values as the average homeowner is expected to see continuing drops in equity.

We urge all people that read this to contact their representative in the House and urge them to seek immediate action to help American homeowners. Please follow this link https://forms.house.gov/wyr/welcome.shtml to send your note to your representative you may also call the House at 202-224-3121 tell them you would like to speak with your representative and in what state and you should be transfered to their office. I urge a relentless pursuit until you hear back directly from the House on this matter. Contact them everyday until we see change!

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