AMERICAN DREAM DOWN PAYMENT ACT -- (House of Representatives - April 08, 2003)
[Page: H2869] GPO's PDF
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(Ms. HARRIS asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)
Ms. HARRIS. Madam Speaker, this afternoon the Subcommittee on Housing and Community Opportunity of the Committee on Financial Services will begin hearings on President Bush's visionary plan to extend the dream of homeownership to tens of thousands of low-income families and individuals across our Nation.
As I have consulted with housing advocates throughout my district, I have repeatedly heard that a great number of low-income Americans could meet a monthly mortgage payment were it not for that initial obstacle of the closing costs and down payment associated with the traditional residential loan.
H.R. 1276, the American Dream Down Payment Act , removes that barrier for an estimated 40,000 low-income families and individuals every year.
Madam Speaker, the extension of affordable quality housing opportunities to every American is a moral imperative for a decent, compassionate society. H.R. 1276 represents a powerful step toward this goal, providing thousands of men, women and children across our Nation with the dignity, stability and economic empowerment of homeownership.
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SUPPORT THE AMERICAN DREAM DOWN PAYMENT ACT -- (House of Representatives - October 01, 2003)
[Page: H9038] GPO's PDF
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(Mr. BURNS asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)
Mr. BURNS. Mr. Speaker, I rise today to voice my support for a bill that will be on the floor later this afternoon, H.R. 1276, the American Dream Down Payment Act . Good quality housing is crucial to the strength of our communities and our Nation. Today more Americans own their homes than ever before; yet despite this success, the lack of homeownership in some of our low-income communities has become a crisis.
For everyone to be able to live the American dream , we should look at providing programs that address the unique housing needs of all people. The goal of H.R. 1276 is to increase the ownership rate among minorities and to revitalize and stabilize our communities. For many low-income households, the down payment is one of the major barriers to homeownership. The American Dream Down Payment Act will benefit these families by helping them realize the American dream of homeownership.
I urge my colleagues to provide hope by supporting the gentlewoman from Florida's (Ms. Harris) bill on the floor today. Support H.R. 1276, the American Dream Down Payment Act .
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President Bush Signs American Dream Downpayment Act of 2003
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