March 18, 2009
County Properties
Mr. Arnold M. Levine
3111 Camino Del Rio North, Suite 400
San Diego, CA 92108
Dear Mr. Levine,
Thank you for sharing with me your support for including foreclosure prevention provisions in the economic recovery package. I appreciate hearing from you and apologize for the delayed response. Each week, I receive more than 2,000 letters, faxes, and e-mails and cannot always personally respond as quickly as I would like.
Like you, I believe our economy will not recover until we have addressed the underlying problems in the housing market that caused the current crisis. I have repeatedly advocated for increasing foreclosure mitigation measures. In January, I voted for legislation that would require at least $40-$100 billion of the Troubled Asset Relief Program (TARP) to be used for reducing foreclosures of owner-occupied homes.
You may be interested to know that the American Economic Recovery and Reinvestment Act (H.R. 1) that Congress passed includes a number of measures to help our ailing housing market. For example, H.R. 1 includes an $8,000 housing tax credit for first time homebuyers who purchase a home before December 1, 2009. The recovery act also includes an additional $2 billion for the Neighborhood Stabilization Fund which helps community groups convert foreclosed properties into affordable housing to reduce vacant buildings and homes.
Rest assured, I will continue to advocate for measures to reduce foreclosure as the stimulus moves through the legislative process.
Once again, thank you for contacting me. As your representative, I both need and value your perspective. Please sign up for my E-Newsletter on my website www.house.gov/susandavis, if you would like to receive regular updates about what is happening in Congress.
With warm regards,
SUSAN A. DAVIS
Member of Congress
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