Rep. Yvette D. Clarke’s Statement on H.R. 839,“The HAMP Termination Act of 2011”
Today, Congresswoman Yvette D. Clarke released the following statement expressing her opposition to H.R. 839, “The HAMP (Home Affordable Modification Program) Termination Act of 2011.” This legislation terminates the U.S. Department of Treasury’s authority to provide new assistance under HAMP, which provides financial incentives to mortgage servicers to reduce borrowers’ monthly payments to no more than 31% of monthly income.
“I strongly oppose the HAMP Termination Act of 2011. I don’t understand why House Republicans would choose to bring legislation to the floor that would eliminate support for middle-class families. At a time when Congress should be supporting the struggling middle-class and promoting job creation, the majority is adding insult to injury.
“It is time to end this assault on the middle-class and those aspiring to be in the middle-class. Let us work in a bipartisan way to do what we are all elected to do, which is to build this nation up… not tear it down.”