Sen. Tupac A. Hunter: Fight Foreclosures, Save the Dream

by: Tupac Hunter

Wed Feb 27, 2008 at 16:31:17 PM EST

As the Democratic Vice-Chairman of the Senate Banking and Financial Institutions Committee, I recently helped usher the bills implementing the Save the Dream initiative through the committee process.

One of the main goals of the Save the Dream campaign is to establish an Adjustable Rate Mortgage (ARM) Refinance Program that will help homeowners switch to a lower-interest, fixed-rate loan. These ARM's have been one of the major factors contributing to our state's foreclosure crisis, which is why I am proud to have sponsored Senate Bill 948 to make sure homeowners in this state can transition into a stable, long-term mortgage that they can actually afford.