States calls to Obama to Rescue Housing

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Composed of all 50 U.S states the The National Lieutenant Governors Association has gone to Congress and Obama to address the crisis “in a meaningful and responsible manner.”

The N.L.G.A has recently passed a resolution to underline the importance of Congressional action as the nation undergoes the possibly the most politically divided Congress in history leading up to the presidential election in November. Redesigning the U.S. mortgage market is going to be a major challenge for Bi-partisan support to resolve this Challenge next year.

The N.L.G.A’s resolution asks that “the President and Congress act with a sense of urgency to address the nation’s housing crisis in a meaningful and responsible manner, while avoiding any legislation or regulatory actions that will inhibit the recovery of the home building industry.”

The National Association of Home Builders praise the N.L.G.A’s actions, N.A.H.B Chairman Barry Rutenberg said “The nation’s lieutenant governors understand that Americans deeply value homeownership and that it is essential to get the housing sector back on firm ground to achieve solid job growth, build healthy communities and move our economy forward,”

Massachusetts Lieutenant Governor Tim Murray, who co-sponsored the resolution with Nevada’s lieutenant governor recently said “Preventing foreclosures will continue to be a priority for the National Lieutenant Governors Association,”

The top state prosecutors reached a $25-billion settlement with the nation’s five largest banks over the robo-signing scandal earlier this year. Files in over 4.5 million foreclosures are being examined by federal regulators to estimate the number of homeowners whose homes were wrongfully foreclosed.

“Nevada was hit particularly hard by the housing crisis, and we look forward to finding solutions to fix this complex issue,” said Nevada Lieutenant Governor Brian Krolicki. “Bringing housing issues to the forefront is long overdue and we are proud of this bipartisan effort and pledge our continual support in turning the housing market around in Nevada and across the country.”

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