Vallejo Times-Herald - Congressmen call on Obama to take steps to deal with foreclosure crisis
January 22, 2012
By Rachel Raskin-Zrihen
Two local congressmen are among some two dozen who wrote President Obama late Thursday, urgently seeking a meeting to find real solutions to the foreclosure crisis devastating the area and the country.
Napa area Rep. Mike Thompson is among three legislators leading the effort, while Rep. George Miller, D-Martinez, who represents Vallejo, is among 27 signatories. In California, more than 34 percent of homeowners with mortgages are considered "underwater" because they owe more on their homes than they're worth, Thompson's office notes.
As of Friday, no answer had been received from the administration, although Thompson's office indicated one is expected.
"Our economy will continue to suffer and consumer confidence will never return if we do not help hard working families navigate through this housing nightmare," Thompson said. "Nothing the Administration has tried is working and Californians are the ones suffering, living paycheck to paycheck and struggling to keep roofs over their heads."
The California delegation wrote Obama in October with suggestions of how his administration could help homeowners, Miller's spokespeople said.
In Thursday's letter to Obama, Thompson, Zoe Lofgren, D-San Jose, Anna Eshoo, D-Palo Alto, and other California lawmakers say they've been trying for more than a year to get the administration to act to fix the problem, so far to no avail.
Napa area Rep. Mike Thompson is among three legislators leading the effort, while Rep. George Miller, D-Martinez, who represents Vallejo, is among 27 signatories. In California, more than 34 percent of homeowners with mortgages are considered "underwater" because they owe more on their homes than they're worth, Thompson's office notes.
As of Friday, no answer had been received from the administration, although Thompson's office indicated one is expected.
"Our economy will continue to suffer and consumer confidence will never return if we do not help hard working families navigate through this housing nightmare," Thompson said. "Nothing the Administration has tried is working and Californians are the ones suffering, living paycheck to paycheck and struggling to keep roofs over their heads."
The California delegation wrote Obama in October with suggestions of how his administration could help homeowners, Miller's spokespeople said.
In Thursday's letter to Obama, Thompson, Zoe Lofgren, D-San Jose, Anna Eshoo, D-Palo Alto, and other California lawmakers say they've been trying for more than a year to get the administration to act to fix the problem, so far to no avail.