California Assembly Republicans Vote Against Foreclosure Relief
California Political Desk
May 29, 2008
GOP Legislators from Central Valley, Inland Empire, Southern California, Los Angeles Area Ignore Homeowners on the Brink of Losing Homes.
SACRAMENTO -- Assembly Republicans today voted in lockstep against a plan advanced by Assembly Democrats to provide assistance to homeowners facing foreclosure.
AB 2509, authored by Assemblywoman Cathleen Galgiani (D-Livingston), was passed by a 45-26 vote, with all "no" votes from Republicans. Six Republicans also abstained, despite being in the Assembly chamber.
"President Bush bailed out the billionaires at Bear Stearns, but Assembly Republicans won't lift a finger to help out the hundreds of thousands of homeowners facing foreclosure on their homes," said Sen. Art Torres (Ret.), Chairman of the California Democratic Party. "The Republicans´ votes are a slap in the face to Californians who are struggling in the Bush economy and may lose the roof over their heads."
The Republicans who voted against the bill included many whose districts encompass areas with the highest home foreclosure rates in the nation, including Stockton, Modesto, and Riverside/San Bernardino. The following Republicans voted against the measure: Assemblymembers Anthony Adams (R-Hesperia); Greg Aghazarian (R-Stockton); Joel Anderson (R-La Mesa); John Benoit (R-Palm Desert); Tom Berryhill (R-Modesto); Chuck DeVore (R-Irvine); Mike DuVall (R-Brea); Bill Emmerson (R-Redlands); Jean Fuller (D-Bakersfield); Ted Gaines (R-Roseville); Bonnie Garcia (R-Cathederal City); Martin Garrick, R-Carlsbad); Kevin Jeffries (R-Riverside); Rick Keene (R-Chico); Doug LaMalfa (R-Biggs); Alan Nakanishi (R-Lodi); Roger Niello (R-Sacramento); George Plescia (R-San Diego); Sharon Runner (R-Lancaster); Jim Silva (R-Huntington Beach); Cameron Smyth (R-Santa Clarita); Todd Spitzer (R-Orange); Audra Strickland (R-Camarillo); Van Tran (R-Costa Mesa); Mike Villines (R-Clovis); and Mimi Walters (R-Laguna Niguel). No Democrats opposed the bill.
This bill would allow CalHFA to establish a mortgage guarantee program to assist homeowners who may be at risk of losing their home due to the structure of their current mortgage agreement. The current subprime mortgage market has created a significant downturn in refinance opportunities for current homeowners. Under provisions of this bill, CalHFA would provide a 20 percent guarantee for a refinanced or new mortgage.
SACRAMENTO -- Assembly Republicans today voted in lockstep against a plan advanced by Assembly Democrats to provide assistance to homeowners facing foreclosure.
AB 2509, authored by Assemblywoman Cathleen Galgiani (D-Livingston), was passed by a 45-26 vote, with all "no" votes from Republicans. Six Republicans also abstained, despite being in the Assembly chamber.
"President Bush bailed out the billionaires at Bear Stearns, but Assembly Republicans won't lift a finger to help out the hundreds of thousands of homeowners facing foreclosure on their homes," said Sen. Art Torres (Ret.), Chairman of the California Democratic Party. "The Republicans´ votes are a slap in the face to Californians who are struggling in the Bush economy and may lose the roof over their heads."
The Republicans who voted against the bill included many whose districts encompass areas with the highest home foreclosure rates in the nation, including Stockton, Modesto, and Riverside/San Bernardino. The following Republicans voted against the measure: Assemblymembers Anthony Adams (R-Hesperia); Greg Aghazarian (R-Stockton); Joel Anderson (R-La Mesa); John Benoit (R-Palm Desert); Tom Berryhill (R-Modesto); Chuck DeVore (R-Irvine); Mike DuVall (R-Brea); Bill Emmerson (R-Redlands); Jean Fuller (D-Bakersfield); Ted Gaines (R-Roseville); Bonnie Garcia (R-Cathederal City); Martin Garrick, R-Carlsbad); Kevin Jeffries (R-Riverside); Rick Keene (R-Chico); Doug LaMalfa (R-Biggs); Alan Nakanishi (R-Lodi); Roger Niello (R-Sacramento); George Plescia (R-San Diego); Sharon Runner (R-Lancaster); Jim Silva (R-Huntington Beach); Cameron Smyth (R-Santa Clarita); Todd Spitzer (R-Orange); Audra Strickland (R-Camarillo); Van Tran (R-Costa Mesa); Mike Villines (R-Clovis); and Mimi Walters (R-Laguna Niguel). No Democrats opposed the bill.
This bill would allow CalHFA to establish a mortgage guarantee program to assist homeowners who may be at risk of losing their home due to the structure of their current mortgage agreement. The current subprime mortgage market has created a significant downturn in refinance opportunities for current homeowners. Under provisions of this bill, CalHFA would provide a 20 percent guarantee for a refinanced or new mortgage.
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