DODD TO HOLD SECOND HEARING ON HOPE FOR HOMEOWNERS PROPOSAL

WASHINGTON, DC – Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that tomorrow he will hold the second in a series of hearings on solutions to mitigate the rising number of foreclosures occurring across the nation, which have led to turmoil in the mortgage and credit markets.  Dodd will hear from witnesses on his HOPE for Homeowners proposal, which would create a new initiative within the Federal Housing Administration to refinance mortgages of distressed homeowners.  Dodd’s first hearing on the issue was last Thursday.

           The Honorable Brian Montgomery

           Assistant Secretary for Housing/Federal Housing Commissioner,