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Rasmussen: most don't support federal foreclosure help

 

From Rasmussen Reports:

As the Senate inches toward passage of a $300 billion bill to help homeowners facing foreclosure, a new Rasmussen Reports national survey shows that only 21% of voters think the federal government should provide such assistance.

Slightly more than half (51%) say the government should not help these troubled homeowners and 27% are undecided.

Forty-six percent (46%) blame the ongoing home foreclosure crisis on individuals who borrowed more than they could afford, while 42% say Wall Street investors and mortgage companies caused the problems.

The bill expands the FHA's refinancing program for homeowners facing foreclosure by $300 billion and calls for an overhaul of the government-backed mortgage companies Fannie Mae and Freddie Mac. The bill also allows troubled lenders like Countrywide to transfer their distressed loans to the federal government, funds a program for cities to buy foreclosed properties and increases federal support for consumer credit counseling programs.

The bill is very attractive to legislators in an election year, but the nonpartisan Congressional Budget Office found it would do little to ease the housing crisis. The White House is balking at key portions of the bill, but President Bush has indicated a willingness to compromise with Congress.

Democrats are more supportive of the measure than Republicans, with 31% favoring federal help for those facing foreclosure as opposed to 11% of Republicans. While a slight plurality of Democrats (37%) oppose such help, far more Republicans (65%) hold that view. Among unaffiliated voters, 50% oppose federal aid while 34% favor it.

Meanwhile, with an op-ed in today's ProJo, Norman Ospina and Judith Reilly rap David Cicilline's foreclosure plan as a recipe for more gentrification.

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