The resignation of HUD Secretary Alphonso Jackson comes at a time when millions of American families are facing the prospect of losing their homes.
The Administration's response to the housing crisis should have been more rapid and more comprehensive. I urge President Bush to work with the Senate and change his approach to this crisis by appointing a new HUD Secretary who will aggressively address urgent housing issues in America, including the foreclosure crisis. In the coming days, HUD will be called upon to work with Congress on several initiatives, including assisting borrowers who face imminent foreclosure to refinance into loans that they can afford to repay.
Congress will continue to work with the President and the Bush Administration to help prevent families from losing their homes, to strengthen America's communities, and to ensure that homeownership remains an attainable component of the American dream.