[Congressional Record Volume 154, Number 116 (Tuesday, July 15, 2008)]
[House]
[Page H6480]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        HOUSING MARKET MELTDOWN

  (Mr. McNERNEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. McNERNEY. Mr. Speaker, I represent the city of Stockton, 
California, which suffers from the highest foreclosure rates in the 
country. I have seen exactly how devastating this problem is for 
communities, and more important, for the families in our district. I 
hear all too often the heartbreaking stories of people struggling to 
keep up. In fact, Mr. Cardoza, who spoke a minute ago, and I have had 
foreclosure workshops to provide counseling to help families refinance 
and stay out of foreclosure.
  Our current economic crisis, including the housing market meltdown, 
can financially devastate many people, and we need change right now so 
that hardworking American families can stay in their homes. We need to 
reform the system by raising the conforming loan limits and providing 
critical relief to hardworking families.
  I strongly believe that we can help provide the breathing room that 
families need so they not only weather the downturn, but come back 
stronger than ever.

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