Supporting America by Supporting Louisiana

What most residents of devastated parts of Louisiana need is the passage of the Baker Plan.

This bill forms a government corporation which buys the damaged properties of Katrina victims. The corporation then cleans the property and resells it either to the original homeowner or to developers, which allows it to be self-funded.

The benefit to Katrina victims is that they no longer need to worry about paying the mortgage on a house they can no longer live in or worry about the house being foreclosed because they can't afford paying rent and paying their mortgage.

No one, not the home owner nor the mortgage company escapes the wrath of Hurricane Katrina unscathed. The homeowner can expect to receive about 60% of their equity and the mortgage companies will be expected to accept something less than 100% of the balance of the mortgage.

I am urging everyone I know to sign a petition in support of the Baker Plan. Doing so would be the biggest help that victims of Hurricane Katrina could ever receive.