House Proceeding 02-26-09 on Feb 26th, 2009 :: 0:25:45 to 0:27:35
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0:25:44 to 0:26:05( Edit History Discussion )

Zoe Lofgren: great pleasure that i recognize the subcommittee chair of immigration, head of ethics committee and a great leader in the congress, ms. lofgren, for two minutes. the chair: the gentlewoman is recognized for two minutes. ms. lofgren: there that been a lot discussed on the floor today that this is a problem that is limid to just a few parts of

0:25:45 to 0:27:35( Edit History Discussion )
Speech By: Zoe Lofgren

0:26:06 to 0:26:29( Edit History Discussion )

Zoe Lofgren: our untry, california, nevada, florida, and i just think it's important -- i went and got the ecords for year to year on the rate of foreclosure. in alabama, nearly 73% increase. in arkansas, 127% increase.

0:26:30 to 0:26:50( Edit History Discussion )

Zoe Lofgren: in hawaii, 139% increase. in kentucky, nearly 60% increase. in maine, 104% increase. in missouri, nearly 60% increase. in nebraska, 165% increase.

0:26:51 to 0:27:12( Edit History Discussion )

Zoe Lofgren: in new hampshire, 356% increase. in new mexico, 270% increase. north carolina, 126% increase. north dakota, 150% increase. this is happening all over the united states. and i'll tell you, when foreclosures hit a neighborhood, when half of the block is up for

0:27:13 to 0:27:34( Edit History Discussion )

Zoe Lofgren: sale at a bank sale, the value of your home declines dramatically. and when the meth dealers move into those vacant homes, it does nothing to increase the value of the homes of the remaining homeowners. it is essential that we interrupt this foreclosure wave.

0:27:35 to 0:27:35( Edit History Discussion )

Zoe Lofgren: now, this very modest bankruptcy