Alerts

From time to time, Valley Home Builders Association reaches out to members, urging action on current legislative and/or regulatory issues. The association's leadership (local, state, national) determine the issues that call for immediate attention. When member assistance is needed, this page outlines the call to action.

Help Builders Get Out of the AD&C Credit Squeeze
Write Congress at www.capitolconnect.com/builderlink and/or call at 1-866-924-6242 (NAHB)

On May 26, 2010, Representative Brad Miller (D-NC) introduced H.R. 5409, the Residential Construction Lending Act, with Representatives Joe Baca (D-CA) and Carolyn Maloney (D-NY). H.R. 5409 will specifically address the AD&C credit crisis that has plagued builders across the country. The bill will establish a loan guarantee program for lenders who provide construction loans to builders with viable projects and a track record of success.

Housing was the first sector hit by the current economic crisis and since then lenders have been tightening their belts. Lenders have been calling AD&C loans that many builders with great track records are unable repay. Because of this shift in lending policy, many builders are forced to give up on viable projects and lay off their workforce. H.R. 5409 gives lenders a reason to not call loans in good standing. The bill will also expand the flow of credit for the home building industry and the millions of people it employs each year.

CALL TO ACTION:
Call your Representative and him them to co-sponsor H.R. 5409, the Residential Construction Lending Act because it gives builders a chance to build and keep their workforce employed. Use the toll-free NAHB Legislative Hotline to be connected to your Representative. Call 1-866-924-6242 (NAHB).

Write Congress today by visiting www.capitolconnect.com/builderlink.

Let NAHB know what you are hearing from your lawmakers by emailing builderlink@nahb.org or by calling (800) 368-5242 x8475.