Testimony of the Honorable Jack Kemp

Chairwoman Sanchez, Ranking Member Cannon, Chairman Conyers and Members of the Committee, thank you for your invitation to discuss the subprime lending crisis facing America and legislation before the House that could help many of the 2.2 million Americans facing foreclosure save their homes. I particularly appreciate the opportunity to reemphasize the importance of the homeownership culture in America, which is why I am supporting the Conyers-Chabot “Emergency Home Ownership and Mortgage Equity Protection Act” as it was amended here in this Committee.

I am very pleased to be here today sitting next to my good friend Wade Henderson and all the other witnesses. It is a pleasure to work with him again as he is a committed advocate for Civil Rights, a real patriot, and I appreciate the invitation you have given us.

Mr. Chairman, I am here not as an expert on bankruptcy jurisprudence, but as a former Member of the House, HUD Secretary, and a long-time advocate for homeownership for all Americans as a tool to strengthen our communities and our economy while building wealth and assets for working families.

Mr. Chairman, I scarcely need to tell you about the role homeownership plays...

(full article: http://judiciary.house.gov/hearings/pdf/Kemp080129.pdf)