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Candidate Positions on Housing crisis

The following positions reflect those used for each candidate in the Select A Candidate survey. They come from the candidates; public statements, Web sites, and responses to Minnesota Public Radio questionnaires. In some cases, candidiates have failed to respond to inquiries, and their position is noted as "No known opinion."

Question: What do you think should be done -- if anything -- in the wake of the near collapse of companies specializing in subprime mortgages, and the foreclosures of homes?
John KlineJohn Kline ANSWER OPTION: We need legislation that would maintain the benefits subprime lending has brought to our working families while protecting against abusive practices which threaten the mortgage market.
CANDIDATE'S POSITION: Kline voted YES on legislation regulating the subprime mortgage industry. He said: "With the growing number of foreclosures, we in Congress must strike a delicate balance between responding to the current mortgage crisis while also preserving opportunities for all borrowers. This legislation would maintain the benefits subprime lending has brought to our working families while protecting against abusive practices which threaten the mortgage market." (More Info)

Steve SarviSteve Sarvi ANSWER OPTION: We need to provide incentives for lenders to work with owners facing foreclosure to ensure that as many people as possible keep their homes.
CANDIDATE'S POSITION: We need to address both the personal and business ramifications of the boom-and-bust cycle we're in and want to avoid in the future. It's important for economic and family stability that as many people as possible keep their homes. We need to provide incentives for lenders to work with owners facing foreclosure to ensure this happens -- something that is in lenders' interest long-term, also. In the immediate term, ensuring the stability of financial markets made it necessary for the government to prevent the collapse of some lending institutions. However, we need to institute and enforce appropriate regulations to prevent future irresponsible lending that allows businesses and individuals to reap financial rewards in good times but suffer no consequences in bad ones. (More Info)