I've searched around the internet and I can't seem to find any information on Melora's life before she began her career, and little information on aspects of her life, not pertaining to her career. So here is a brief summary of Melora's career as an actress. :-)
Melora Walters began acting in off-Broadway shows. Soon after, she got a small role as Debbi in the popular sitcom Rosanne. She then went on to make her first movie, Underground Terror. Her 1989 movie, Dead Poet's Society, in which she portrayed Gloria, earned her her SAG (Screen Actors Guild) card. Since then she has had many more roles, some supporting and some as the lead actress. She is a Paul Thomas Anderson regular; she has been in three of his films. (Hard Eight (hooker), Boogie Nights (Jessie St. Vincent), and Magnolia (Claudia Wilson Gator). Melora is widely recognized for her role in Magnolia as the cocaine addict on the verge of an emotional collapse. In an AOL/TV Guid online chat, she stated that Claudia was her favorite role. (read the entire interview here) Her most recent movies are The Butterfly Effect and the Oscar nominated Cold Mountain. As well as appearing in many movies, Melora has appeared on a couple of TV shows, and has a regular role on two. Among the many shows she has appeared on are Seinfeld, NYPD Blue, and Roseanne. She had a regular role as Felicity on LA Doctors, and appeared on the ABC sitcom Threat Matrix for one season.
Melora has two children, and currently resides in LA.