FACT CHECK: Romney’s Housing Plan Is To Let Foreclosures “Hit The Bottom”
Mitt Romney tried to express sympathy for struggling homeowners in his speech tonight, but he’d only make things worse for them. His plan for the housing market is to let it “hit the bottom.” He even said to those homeowners that the banks are “feeling the same thing that you’re feeling.”
ROMNEY CALLED FOR FORECLOSURES TO “HIT THE BOTTOM” MORE QUICKLY…
Las Vegas Sun Headline: “Romney And Ryan Both Say They Want Housing Market To ‘Hit Bottom’” [Jon Ralston, Las Vegas Sun, 8/14/12]
Romney In Nevada: “Don’t Try To Stop The Foreclosure Process. Let It Run Its Course And Hit The Bottom.” Romney: “As to what to do for the housing industry specifically and are their things that you can do to encourage housing. One is, don’t try to stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up. The Obama administration has slow walked the foreclosure process [inaudible] that has long existed and as a result we still have a foreclosure overhang.” [Las Vegas Review-Journal, 10/17/11]
“Mitt Romney Came To The State With The Highest Foreclosure Rate In The Nation And Said He Wants To Allow Home Foreclosures To ‘Hit The Bottom’ To Help The Housing Industry Recover.” [Christian Science Monitor, 10/20/11]
Las Vegas Sun Editorial: Romney Said He Wants To Move Quickly By Having Foreclosures “Washed Through The System” Meaning Even More Foreclosures. “In an interview with the Las Vegas Sun, Romney said ‘the key thing for me is let the market do its work. Get the foreclosures washed through the system ... let the market rebound from the bottom that it hits, and get people back into homes.’ In other words, Romney doesn’t want the government involved but instead wants the market left on its own. And he wants it to move quickly by having foreclosures ‘washed through the system,’ meaning even more foreclosures.” [Editorial, Las Vegas Sun, 10/30/11]
ROMNEY TOLD PEOPLE EFFECTED BY FORECLOSURES THAT “THE BANKS AREN’T BAD PEOPLE. THEY ARE JUST OVERWHELMED RIGHT NOW” AND BANKS ARE “FEELING THE SAME THING THAT YOU’RE FEELING”
Romney To Florida Residents Concerned About Housing: “Now The Banks Aren’t Bad People, They’re Just Overwhelmed Right Now.” [Romney Event, Lehigh Acres FL, 1/24/12]
Romney Told Florida Residents Concerned About Losing Their Homes: “Banks Are Scared To Death Of Course… So They’re Feeling The Same Thing That You’re Feeling.” Romney told Florida residents: “Well the banks are scared to death, of course, because they think that they’re going to go out of business. They’re afraid that if they write all these loans off that they’re going to go broke. So they’re feeling the same thing that you’re feeling, so they just want to pretend like all this is going to get paid so they don’t have to write it off and potentially go out of business themselves.” [Romney Roundtable, Tampa FL, 1/23/12]