Video archive of the US Congress

Senate Proceeding on Feb 28th, 2008 :: 8:10:12 to 8:12:01
Total video length: 9 hours 29 minutes Stream Tools: Stream Overview | Edit Time

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Richard Durbin

8:09:04 to 8:10:12( Edit History Discussion )
Speech By: Richard Durbin

Richard Durbin

8:09:55 to 8:10:12( Edit History Discussion )

Richard Durbin: are losing their homes. they're out of money again. i don't think that's really too outlandish to have mortgage counselors be able to sit down and talk to people about their homes. we had a provision

Christopher Dodd

8:10:12 to 8:10:27( Edit History Discussion )

Christopher Dodd: in here for cdbg money to go back to communities to work on homes that are being foreclosured upon. we had a provision that deals with having these documents of peep -- that people deal with when

Christopher Dodd

8:10:12 to 8:12:01( Edit History Discussion )
Speech By: Christopher Dodd

Christopher Dodd

8:10:27 to 8:10:43( Edit History Discussion )

Christopher Dodd: they're buying a home to make it more transparent. that came from jack reed ofoid island, a -- ofoid island, a -- of rhode island. and there is a piece of legislation that makes up part of this that

Christopher Dodd

8:10:43 to 8:11:01( Edit History Discussion )

Christopher Dodd: says, if you have a home that is being foreclosured upon, you should be able to go to bankruptcy and see if you can work something out on that. a bankruptcy judge would able to work with you. right now

Christopher Dodd

8:11:01 to 8:11:19( Edit History Discussion )

Christopher Dodd: it is against the law to do that. if you have a primary home and you want to buy a ranch to go play with on the weekends or someplace on the beach and you decide you run out of money later, you can

Christopher Dodd

8:11:19 to 8:11:45( Edit History Discussion )

Christopher Dodd: go in and work with the bankruptcy court to try to refinance and re-adjust those loans, but not your primary residence. so my friend, senator durbin, from illinois, has been working on this for a long

Christopher Dodd

8:11:45 to 8:12:01( Edit History Discussion )

Christopher Dodd: time, it didn't come about in the last week or two, saying that people who lose their primary residence should have the auspices of the bankruptcy court to work it out. it is a good piece of legislation.

Harry Reid

8:12:01 to 8:12:18( Edit History Discussion )

Harry Reid: not a shotgun, a rifle shot. georgetown university did a study, and they said that durbin's provision would not raise the interest rates a fraction of .100%, nothing, wouldn't affect it at all. so

Harry Reid

8:12:01 to 8:13:02( Edit History Discussion )
Speech By: Harry Reid

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