A program that helps people avoid losing their homes to foreclosure could get its budget cut. Democratic Members of the Philadelphia Congressional delegation are vowing to fight against the Republican-backed move. A local Republican is targeting a different program.
Rep. Chaka Fattah (D-Philadelphia) says he’s worried that Republican budget cutters have taken aim at a program to provide loans to people in danger of foreclosure.
“For an average of $7,000 worth of help over a few months in which people needed that help they have been able to save their homes pay their state back the money and save taxpayers money,” said Fattah.
Senator Bob Casey (D-Pennsylvania) stresses that the help is not in the form of grants
“This is a loan program people pay the money back and it’s one of the best remedies for a job crisis and a housing crisis,” said Casey.
Almost 3,000 Philadelphia homeowners are waiting for help from the program.
Rep. Mike Fitzpatrick (R-Bucks County) is taking credit for a measure that would end the Federal Housing Administration’s Refinance program. Fitzpatrick says it has spent over $50 million to modify a total of 44 mortgages by an average of $3,000.