Rep. Maxine Waters, D-Calif., has introduced legislation that would protect neighborhoods from the damaging effects of foreclosed and abandoned properties. The legislation would provide funding for the rehabilitation of neighborhoods to prevent plummeting home prices and lower quality of life for homeowners, said Waters. "Foreclosures are not only a tragedy for the families that lose their homes, they are a calamity for entire neighborhoods," said Waters. Her legislation builds on the National Stabilization Program, which was signed into law as part of the Housing and Economic Opportunity Act of 2008. Communities across the country received $7 billion, and they were able to rehabilitate more than 100,000 homes.