COP Hearing: Coping with the Foreclosure Crisis in Prince George’s County, Maryland
On Friday, February 27, 2009, the Congressional Oversight held a hearing examining state and local foreclosure reduction and prevention efforts in the state of Maryland. Prince Georges County has the highest rate of foreclosures in Maryland.
Maryland has taken aggressive and innovative steps to address what they see as the “worst housing crisis the nation has seen since the Great Depression.” The State has taken a multi-tiered approach enacting legislation to deal with mortgage lending, providing funds to community groups to help distressed homeowners, and negotiating agreements with mortgage servicers to compel them to attempt foreclosure mitigation first before foreclosure. Through this approach the State has seen an increase in the number of homeowners receiving much needed help. However, as the economic downturn takes an even stronger hold, the State has also seen the number of homeowners in need increase as well.
The witnesses included members of the public who have faced the threat of foreclosure, community-based providers of foreclosure mitigation and other housing servicers, and a state official. The Panel heard opening remarks from Congresswoman Edwards, Congressman Van Hollen, and Lloyd Baskin, Manager of the Homeownership Center of Prince George’s County.
Witness | |
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John and Esther Mitchell, residents of Prince George’s County and distressed homeowners |
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Tracy Robison, resident of Prince George’s County and distressed homeowner |
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Teresa Smith, resident of Prince George’s County and distressed homeowner |
Witness | Testimony |
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Lisa McDougal, Co-Chair, Coalition for Homeownership Preservation in Prince George’s County, and Executive Director, Sowing Empowerment and Economic Development (SEED) |
Testimony |
Anne Balcer Norton, Director of Foreclosure Prevention, St. Ambrose Housing Aid Center |
Testimony |
The Honorable Thomas E. Perez, Secretary, Maryland Department of Labor, Licensing & Regulation |
Testimony |
Phillip Robinson, Executive Director, Civil Justice, Inc |
Testimony |
Witness | Statement |
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Elizabeth Warren, Chair, Congressional Oversight Panel |
Statement |
Richard Neiman, Congressional Oversight Panel |
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Damon Silvers, Congressional Oversight Panel |
Statement |