Senator Akaka Attends White House Signing of Housing Bill
By admin - Posted on May 25th, 2009
Tagged: Barack Obama
• Congress
• Daniel K. Akaka
• Foreclosure
• Helping Families Save Their Homes Act
• Mortgages
• Senate
• White House
May 20, 2009 -- WASHINGTON, D.C. -Today, Senator Daniel K. Akaka attended President Barack Obama's signing of the Helping Families Save Their Homes Act of 2009 in the East Room of the White House. President Obama greeted Senator Akaka after the ceremony, and Akaka passed along well wishes from his family and the people of Hawaii.
"I was proud to support this legislation that will help improve the lives of people without adequate housing," Akaka said. "With President Obama's signature today, this legislation will help provide federal resources and flexibility to local communities to create adequate housing for their residents."
As a member of the Banking, Housing, and Urban Affairs Committee, Senator Akaka was involved in the development of this new law and supported the bill's approval by the committee and the full Senate. It passed the Senate on May 6 by a vote of 91-5.
This new law will help reduce foreclosures and help American homeowners and renters. It encourages home loan modifications, strengthens borrower protections, protects responsible renters living in foreclosed homes, and provides additional resources for homeless programs. In addition, the Act also takes steps to promote confidence in banks and improve the availability of credit.
Source: Senator Daniel K. Akaka
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