Bob Hackworth on Bill Young's Housing Relief Nay Vote
District 10 congressional candidate Bob Hackworth voices his disapproval of Rep Bill C. W. Young's vote againt the housing relief bill.
(Dunedin, FL)—After threats of a veto to the nation’s most substantial housing bill in decades, President Bush signed the Foreclosure Prevention Act today. This bill provides relief to more than 400,000 homeowners in danger of foreclosure and helps reassure financial markets of the health of Freddie Mac and Fannie Mae who control 42% of the nations mortgages. One provision of this Act calls for $300 billion in mortgage relief for troubled homeowners, this will allow these homeowners to transform their high-interest mortgages into government-backed, thirty-year fixed-rate mortgages. The Act also sets a cap of $625,000 on loans made by Freddie Mac and Fannie Mae, which the FHA can insure and allow both institutions to buy back mortgages up to 15% above the median home price. Another provision of the bill gives $3.9 billon to help communities fix-up foreclosed properties.
“With 1.4 million foreclosures, and rising, nationally, and with one home out of 200 in Florida in foreclosure, it is outrageous that Rep Bill C. W. Young, would not support this bill. I find it deplorable that Rep. Young voted against this bill, especially with Florida having such a high mortgage default rate. As our Congressman, he should be trying to help, not hurt during this crisis,” said Mayor Hackworth.
WMNF interviews Hackworth about how he can beat Young. Hackworth tells Arielle Stevenson the election is about change. Hackworth cites his record as Mayor of Dunedin is an asset with voters.
Hackworth is against offshore drilling. He tells WMNF that there will be a negative impact on Florida's beaches. The candidate says he will support a Democratic administration's efforts to end the war in Iraq.