A vote on HR 1106 was delayed Thursday as conservative Democrats tried to reduce the number of mortgages impacted by the legislation. When I looked at the composition of the Blue Dog Democrats and The New Democrat Coalition, I’m amazed at the number of Northern California Congressmen in those groups.
These Northern and Central California Representatives are members of those groups of Democrats:
- Baca District 43
- Cardoza District 18
- Costa District 20
- Thompson District 1
- Tauscher District 10
- Capps District 22
Having heard some of the rhetoric in the floor debate, it seems to me that the debate has been gotten so focused on the merits or demerits of the individual borrower that the effect on all of us has been forgotten.
Foreclosures are dragging down neighborhoods and the national economy.
Voluntary mortgage modifications are not working, so the available options seem to be either foreclosures or judicial mortgage modification. The narrower the application of the bill the less likely it is to solve our national economic.