Positions and Views of Raymond Levi Blagmon
on Homes
| Previous Candidate for U.S. Senate, Maryland |
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Raymond Levi Blagmon's positions and views on the issues:
Links are only provided where we have information. The first link is a
report of all issues and questions made available to the candidates.
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List of Issues | Biographical | Reasons & Objectives | Jobs | Economy | Federal Budget & Fiscal Policy | Government | Health & Medical | Medical Insurance | Energy, Gas, Oil & Autos | Labor Wages & Unions | Transportation | Education | Homes
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| Homes |
Positions and Views |
| Housing, a General Statement |
I am a proponent of overhauling or amending the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, which will provide certain minimum standards for consumer mortgage loans and other benefits to American homeowners. I will push for legislation that would prevents lenders from offering mortgages borrowers can't afford or understand. To assure that consumers are offered and receive residential mortgage loans on terms that reasonably reflect their ability to repay the loans and that are understandable and not unfair, deceptive, or abusive. My plan is to create initiatives that will keep homeowners in their homes as long as they are making regular payments on their mortgage.
My plan would:
* Reduce loan principal for borrowers who owe more than 115% of their home's current value.
* Forgive balance as long as the homeowner makes timely payments for three years.
* Create legislation that would require lenders to offer forbearance plans to qualified borrowers who have lost their jobs for at least 3 and up to 6 months.
* Unemployed borrowers could lower their payments or have them suspended entirely during time of unemployment.
The expansion of the president's loan modification effort comes on the heels of two blistering government watchdog reports, which slammed the administration for poor implementation of the program and raised doubts that it would reach the initial goal of helping 3 to 4 million troubled borrowers stay in their homes. The program, which calls for reducing borrowers' monthly payments to 31% of their pre-tax income, has led to only about 170,000 long-term modifications so far. Meanwhile, the nation is sinking deeper into the mortgage crisis. More needs to be done in addressing this crisis, and I will work diligently on behalf of all Marylanders and Americans to make sure that unemployed Americas who want to keep their homes, have the means of doing so.
Source: www.blagmon.com/Issues (04/02/2012) |
| Mortgage Lending |
I am a proponent of overhauling or amending the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, which will provide certain minimum standards for consumer mortgage loans and other benefits to American homeowners. I will push for legislation that would prevents lenders from offering mortgages borrowers can't afford or understand. To assure that consumers are offered and receive residential mortgage loans on terms that reasonably reflect their ability to repay the loans and that are understandable and not unfair, deceptive, or abusive. My plan is to create initiatives that will keep homeowners in their homes as long as they are making regular payments on their mortgage.
My plan would:
* Reduce loan principal for borrowers who owe more than 115% of their home's current value.
* Forgive balance as long as the homeowner makes timely payments for three years.
* Create legislation that would require lenders to offer forbearance plans to qualified borrowers who have lost their jobs for at least 3 and up to 6 months.
* Unemployed borrowers could lower their payments or have them suspended entirely during time of unemployment.
The expansion of the president's loan modification effort comes on the heels of two blistering government watchdog reports, which slammed the administration for poor implementation of the program and raised doubts that it would reach the initial goal of helping 3 to 4 million troubled borrowers stay in their homes. The program, which calls for reducing borrowers' monthly payments to 31% of their pre-tax income, has led to only about 170,000 long-term modifications so far. Meanwhile, the nation is sinking deeper into the mortgage crisis. More needs to be done in addressing this crisis, and I will work diligently on behalf of all Marylanders and Americans to make sure that unemployed Americas who want to keep their homes, have the means of doing so.
Source: www.blagmon.com/Issues (04/02/2012) |
| Mortgage Credit |
I am a proponent of overhauling or amending the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, which will provide certain minimum standards for consumer mortgage loans and other benefits to American homeowners. I will push for legislation that would prevents lenders from offering mortgages borrowers can't afford or understand. To assure that consumers are offered and receive residential mortgage loans on terms that reasonably reflect their ability to repay the loans and that are understandable and not unfair, deceptive, or abusive. My plan is to create initiatives that will keep homeowners in their homes as long as they are making regular payments on their mortgage.
My plan would:
* Reduce loan principal for borrowers who owe more than 115% of their home's current value.
* Forgive balance as long as the homeowner makes timely payments for three years.
* Create legislation that would require lenders to offer forbearance plans to qualified borrowers who have lost their jobs for at least 3 and up to 6 months.
* Unemployed borrowers could lower their payments or have them suspended entirely during time of unemployment.
The expansion of the president's loan modification effort comes on the heels of two blistering government watchdog reports, which slammed the administration for poor implementation of the program and raised doubts that it would reach the initial goal of helping 3 to 4 million troubled borrowers stay in their homes. The program, which calls for reducing borrowers' monthly payments to 31% of their pre-tax income, has led to only about 170,000 long-term modifications so far. Meanwhile, the nation is sinking deeper into the mortgage crisis. More needs to be done in addressing this crisis, and I will work diligently on behalf of all Marylanders and Americans to make sure that unemployed Americas who want to keep their homes, have the means of doing so.
Source: www.blagmon.com/Issues (04/02/2012) |
| These are available issue topics for which there were no responses. |
| Subprime Mortgage Crisis |
| Declining Home Prices |
| Foreclosures |
| Federal Mortgage Regulation |
| Predatory Lending |
| Freeze Adjustable-rate Mortgage Interest Rates |
| Mortgage Bankers Lending Standards |
| Federal Housing Administration (FHA) |
| Neighborhoods, a General Statement |
| Community Development |
| Community Development Block Grant Program |
| Homeownership |
| Affordable Housing |
| Low Income Housing |
| Homelessness |
| Veteran Homeownership |