California congressmen demand action from Obama on housing market collapse

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• Say little other than talk has been done to help most homeowners
• ‘We need to take the necessary steps to keep people in their homes’

Democratic members of Congress from California are demanding a face-to-face meeting with President Barack Obama over the mortgage meltdown that’s put millions of homeowners underwater.

They say that despite repeated meetings with members of the President’s cabinet and other high-level staff, very little has been done to solve the ongoing foreclosure problem. The lawmakers note that they have presented numerous possible solutions, all of which seem to have slipped into oblivion.

“We have yet to receive a decision from your Administration. Why not?” ask the Democrats of Mr. Obama in a letter sent Thursday.

Homeowners in California have been disproportionately affected by the foreclosure crisis, they says.

“To bolster our state’s economy, we need to take the necessary steps to keep people in their homes. My colleagues and I are calling for commonsense measures to help folks in danger of foreclosure,” says Rep. Jerry McNerney, D-Pleasanton whose district includes much of Stockton and San Joaquin County, where the mortgage meltdown has been especially severe..

“In my area, most significantly in Stockton, there is a disturbingly high foreclosure rate. We must take steps to help families find responsible and manageable solutions to stay in their homes. This will help our entire community to survive in today’s economy,” says Mr. McNerney.

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