Statements about Housing
Under Obama, home values in Florida collapsed, construction jobs were lost and the state had a high foreclosure rate.
Mitt Romney said we should let foreclosures "hit the bottom."
"Nearly 60% of all occupants of HUD properties in U.S. are illegals."
Says Obama broke his promise to help homeowners facing foreclosure.
"In 2006, I went out and authored a letter with 24 other senators asking for major reform of Freddie and Fannie, warning of a meltdown and a bubble in the housing market."
Florida's economy "became a bad economy ... because of a huge spike in oil prices in the summer of 2008."
Says Mitt Romney’s housing policy is, "Don’t try and stop the foreclosure process. Let it run its course and hit the bottom."
"When lenders foreclose on homes, they typically suffer losses that exceed 30 percent of the value of the home."
Says the new Dodd-Frank financial law requires a 20 percent down payment to buy a house.
Housing prices dropped for the 30 months prior to Barack Obama taking office, "and they have stabilized, they've been about flat since the president came in."
"Barack Obama is in an economy that's only worsened since he's been president of the United States."
"Harry Reid says he does more for Nevada. He's done more for unemployment. We were at 4.4 percent. Now we're at 14 percent. He's done more for the foreclosure rate. We have the highest foreclosure rate in the nation. He's done more for bankruptcy. We have the highest bankruptcy rate in the nation."
Senators who have accepted millions in campaign contributions from the financial industry voted against allowing bankruptcy judges to modify home mortgages.
"I said two years ago that the Fannie and Freddie thing was a very serious problem and we had to work on it."
John McCain said last year he didn't know of a solution to the mortgage crisis.
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