On May 21, 2008, Dr. Phyllis Betts gave testimony to the Subcommittee on Domestic Policy of the House Committee on Oversight and Government Reform about the impact of the mortgage crisis on neighborhoods. This testimony spoke specifically to the Neighborhood Stabilization Act of 2008 (H. R. 5818), which was passed in the House on May 8, 2008.

The primary two points of her testimony were:

1. In the current market, foreclosures affect not only the people loosing their homes, but have a debilitating impact on neighborhoods, particularly in moderate income neighborhoods where marginal buyers were more likely to purchase homes.

2. The First American CoreLogic Database, a primary source of data for the funding formula set out by Section 5(d) of H.R. 5818, is not representative of low and moderate income housing markets.

Read the brief of Phyllis' 5/21/2008 testimony

Listen to the full testimony, Mortgage Crisis in Neighborhoods, on C-Span