They Voted For You: Foreclosures & Bankruptcy

U.S. Reps. Alan Mollohan, D-1st, and Nick Rahall, D-3rd, helped the House pass the Helping Families Save Their Homes Act of 2009.

Rep. Shelley Moore Capito, R-2nd, voted against the measure in the 234-191 roll call, joined by all but seven of the GOP members present.

The bill would "give debt-strapped homeowners a chance to lower their mortgage payments through bankruptcy courts," The Associated Press reports, while noting that "foreclosures and past-due home loans hit a record 5.4 million last year."

"Supporters regard the threat of a mortgage modification in bankruptcy as a crucial tool to prod banks to negotiate with homeowners for more affordable terms," the article said. "Critics argue the measure will create a flood of bankruptcy filings that ultimately will drive up mortgage rates and further destabilize the battered housing market."

AP also reports that this part of the Obama administration's housing rescue plan "is facing a much tougher road in the Senate amid the same industry opposition and reservations from moderate Democrats that nearly derailed it in the House."