The House today passed the American Housing Rescue & Foreclosure Prevention Act — meant to help families keep their homes, to aid communities rocked by the foreclosure crisis and to strengthen the economy and financial markets — on a 272-52 vote with all Bay Area members voting in favor. See what some of them had to say about it, after the jump…

From Rep. Barbara Lee, D-Oakland:

“We have an obligation to make the dream of homeownership accessible to all Americans and help them to achieve those dreams by limiting unscrupulous lenders who seek to profit at the expense of the people that they purport to serve. … Prior to joining the Appropriations committee last year, I served on the Financial Services Committee Subcommittee on Housing for eight years, during which I worked to create and expand homeownership opportunities including the creation of the AHTF [Affordable Housing Trust Fund] included in this bill. This bill is a great step in the right direction, and the President’s reversal on his veto threat also helps. But we need to do more. We need to pass an economic stimulus package.”

From Education and Labor Committee Chairman George Miller, D-Martinez:

“Californians, seeing the highest foreclose levels in at least 20 years, need help now. Families in Contra Costa and Solano Counties are among the hardest hit by the mortgage crisis. Congress is taking strong action to shore up our housing market and help these families and their neighborhoods weather this storm.

“The American Housing Rescue and Foreclosure Prevention Act, approved today by the House and expected to be signed into law by the president shortly, will help families keep their homes, support neighborhoods suffering from foreclosure, and put provisions in place to help stabilize the housing market. … Our legislation has been the subject of lengthy and intense negotiations between the House, the Senate, and the White House. I am confident that with its enactment we will take one important step forward to begin to stabilize the economy and help homeowners and their families during this extremely difficult downturn.”

From Rep. Ellen Tauscher, D-Alamo:

“Right here in our community the mortgage crisis is impacting our friends and neighbors. Families are losing their homes while others are on the brink of foreclosure or watching their property and re-sale values fall. I backed this bill because the conditions called for immediate relief to get the economy and the market back on track while providing for long term stabilizing conditions.”

From Rep. Jerry McNerney, D-Pleasanton:

“The mortgage crisis affects all of us and it’s had a particularly large impact in San Joaquin County and parts of Eastern Contra Costa County. Families have lost their homes, homeowners have seen property values nosedive and neighborhoods have become destabilized. The bill I backed today will help families keep their homes and get our economy back on track.”

From Rep. Lynn Woolsey, D-Petaluma:

“Home ownership is part of the American Dream, but for many Marin and Sonoma families it’s turning into a nightmare. In communities throughout the North Bay we are seeing sharp increases in default and foreclosure rates, and steady declines in home values, as families struggle to keep up with their mortgage payments. This is an issue that threatens all of us, and one that we must work together to solve…

“It is essential that we do everything in our power to keep Americans in their homes. Foreclosures not only affect the family that risks losing their homes, but the entire community as well. That’s because foreclosed properties drag down the values of nearby homes, leading to a decrease in tax revenue for local governments who are already struggling to provide basic services such as adequate police and fire protection. While our area hasn’t been as hard hit as some parts of the country, hundreds of local families have already lost their homes, and thousands more are at risk if we don’t confront this problem head on.”

From House Speaker Nancy Pelosi, D-San Francisco:

“Mr. Rangel, Mr. Frank, Mr. Neal, and Chairwoman Waters have brought us a comprehensive package on housing policy reforms that will help lift families facing foreclosure and stem the continuing drop in home values around the country.

“I also wish to acknowledge the contributions of Treasury Secretary Paulson. Secretary Paulson played a constructive role and helped the President reached this agreement after opposing many parts of this legislation. I’m so pleased that the White House issued the statement this morning that the President would not veto this bill.

“Under Chairman Barney Frank’s leadership, the House last year, just three months after Democrats took the majority, passed a bill very similar to the one the House is voting on today and the Administration said it will not oppose. Mr. Frank and members of the committee foresaw that there was a need for legislation.

“Again in May of this year, the House passed virtually an identical GSE reform bill as part of a broader comprehensive package to address the crisis in our housing market. Also in January, in discussion over the economic stimulus package, we proposed inclusion of both the GSE reform bill and the FHA reform bill that are now in this package. Unfortunately, we could not get agreement on that.

“The bill the House takes up today, if enacted, will represent the most far-reaching reform of our nation’s federal housing finance system in a generation.

“Chairman Frank had the foresight to build a bipartisan consensus around a bill that addresses the difficult challenges in our housing markets and in communities across America. To help American families avoid foreclosure and jumpstart the housing market the legislation, first, steers middle-class families away from predatory subprime loans and provides them with affordable mortgages; shields middle-class borrowers from predatory lending practices and provides foreclosure avoidance counseling opportunities; protects taxpayers, not speculators, by requiring lenders and homeowners to take responsibility; and offers tax breaks to first-time home buyers.

“In this bill, we are also ensuring that the legislation increases the stock of affordable housing by preserving affordable rental housing for seniors and other populations in communities across America, provides tax incentives for the production of rental housing for low-income populations.

“On the subject of our veterans, this legislation is also helping returning veterans achieve the dream of home ownership by increasing the VA Home Loan limit for veterans in high cost areas – I’m so proud of that. Extending the length of time veterans are protected from foreclosure — upon on their return from service — from three months to one year.

“The bill does many, many other things too numerous to mention here but suffice it to say that we are addressing a crisis of historic proportions and the bill protects the futures of our families and their housing.

“Having just returned from the Gulf Coast region, I would also like to note the significant contributions to this bill of two of our newest Members in the House, both of whom hail from the Gulf area: Don Cazayoux from Louisiana and Travis Childers from Mississippi.

“Congressman Cazayoux and Congressman Childers sponsored legislation cutting red tape at HUD so that public housing facilities can receive swift assistance from FEMA after a natural disaster. Their legislation also authorizes funds to combat violent crime on or near the premises of public or federally assisted housing facilities. Their achievement is a testament to their diligence and dedication in representing their districts.

“Owning a home is an essential part of the American Dream. It’s not only about what it means to individuals, it is what it means to the community, putting down roots. It is what it means to the economy as we take an interest in our homes and make them habitable.

“By expanding homeownership opportunities and protecting families against foreclosure, we are helping keep the American dream of owning a home alive.

“By restoring confidence in the housing market, our economy can begin to grow and create jobs for the American people again.”