More than half of the nation's foreclosures last year took place in just 35 counties, most of which were in Florida.
Projected foreclosures by Congressional district shows 14 Florida Congressional Districts in the top 20 for the nation, with John Mica's district projected to see almost 20,000 foreclosures.
Surely Mica would want to level the playing field by allowing judges in bankruptcy court to require banks to rework the mortgage for homeowners who are about to loose their primary home due to bankruptcy, just like is already permitted under law for secondary homes. Not so.
The legislation, would let bankruptcy judges reduce the principal and interest rate on a home loan. That essentially would require mortgage companies to let debt-strapped homeowners reduce their monthly payments rather than lose their main residences.
As usual, Mica does not side with the average people, just those who were able to afford a second home.
Mica voted against help for homeowners in Bankruptcy court. Check out who else voted against this bill meant to help American Families stay in their Homes:
http://www.govtrack.us/congress/vote.xpd?vote=h2009-104
