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President Obama asked to help solve foreclosure crisis

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Posted: Friday, January 27, 2012 12:00 am | Updated: 6:02 am, Fri Jan 27, 2012.

Rep. Jerry McNerney, D-Pleasanton, and several of his colleagues from California called on President Barack Obama to act immediately and aggressively to address the foreclosure crisis.

California has been disproportionately affected by the foreclosure crisis, especially in San Joaquin County, McNerney said in a news release.

“Every week when I go home, I hear from people in my district who are struggling with an underwater loan or being foreclosed upon,” McNerney said. “To get our economy moving, we must have a real action plan to end the housing logjam and keep people in their homes.”

McNerney and other members of Congress called on the president to require that there be one point of contact for homeowners to talk to at their lending institution and create a plan to reduce the principal owed for homes facing foreclosure.

Contact reporter Ross Farrow at rossf@lodinews.com.

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1 comment:

  • Darrell Baumbach posted at 7:19 am on Fri, Jan 27, 2012.

    Darrell Baumbach Posts: 9403

    McNerney said. “To get our economy moving, we must have a real action plan to end the housing logjam and keep people in their homes.”

    INCREDIBLE... McNerney is the problem...and the people who elected Brown are the problem. Businesses, jobs and the tax base left California in record numbers. Housing is not going to turn around until California develops a “REAL PLAN” to become more business friendly. Interest rates are artificially low and will go up, making housing even worse...
    When the people of California elected an old union slick politician (Brown) over a creative successful business woman in Meg Whitman, when it reelected McNerney who looks to Mr. Failure (Obama) as a solution to our problems, it show insanity in motion.



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