Madam Speaker, I rise today in support of this rule and in strong support of the underlying bill. 

In my home state of Rhode Island, we have been deeply affected by the downturn in the housing market.  Our foreclosure rate last year was ranked tenth worst in the nation according to the Mortgage Bankers Association.  To make matters worse, we currently have the second highest unemployment rate in the country at ten percent. 

A lack of action will lead to even more dire consequences.  In order for the economy to begin to recover, it is evident that action must be taken to prevent foreclosures, help more families preserve homeownership and stabilize home prices.

H.R. 1106, the Helping Families Save Their Homes Act, provides the resources that homeowners and lenders will need to guide them through this crisis.  We also must ensure that the appropriate measures are in place to prevent this kind of crisis in the future.

I would like to thank my colleagues, especially Chairmen Conyers and Frank, for their tireless effort on this measure. 

Thank you, Madam Speaker, and I yield back my time.