New Research Shows Re-Redlining in Five California Cities

February 8, 2010 Posted by California RealEstateRama

February 8, 2010 - (RealEstateRama) — After saturating neighborhoods of predominantly black and Latino residents with high-cost, often predatory lending throughout the subprime boom, banks have failed at preventing foreclosures while returning to high and disparate rates of loan denial for applicants of color, according to a new report by the California Reinvestment Coalition.

First American Valuation and Property Solutions Offers New Appraiser Validated Price Opinion Product

February 4, 2010 Posted by California RealEstateRama

DALLAS, TX - February 4, 2010 - (RealEstateRama) — First American Valuation and Property Solutions, a member of The First American Corporation (NYSE: FAF) family of companies and a leader in residential property valuations, inspections and preservation services, today announced its new valuation service, the Appraiser-Validated Price Opinion.

REP. CALVERT TO HOST HOMEOWNERSHIP PRESERVATION WORKSHOP SATURDAY, FEBRUARY 6, 2010

February 4, 2010 Posted by California RealEstateRama

Washington, DC - February 4, 2010 - (RealEstateRama) — On Saturday, February 6, 2010, Rep. Calvert, in conjunction with the Housing Opportunities Collaborative of the Inland Empire, the Federal Housing Administration, Housing and Urban Development, the City of Corona and Crossroads Christian Church, will host a homeownership preservation workshop

Rep. Baca Sponsors Legislation to Give First Preference to Primary Residency Home Buyers

February 3, 2010 Posted by California RealEstateRama

Washington, DC - February 3, 2010 - (RealEstateRama) — Today, Congressman Joe Baca (D-Rialto) introduced legislation to give certain preferences to individuals and families committed to rebuilding communities when purchasing government owned residential property. The First Look at Primary Residence Act requires the federal government, and Fannie Mae and Freddie Mac, to consider purchase offers from only those who plan to use the property as their primary residence for the first 15 days that the properties are listed. After that time period, the seller is allowed to consider any offer.

Housing Secretary gets a vote of no confidence

January 27, 2010 Posted by California RealEstateRama

WASHINGTON, DC - January 27, 2010 - (RealEstateRama) — Congressman Dennis Cardoza said today he had lost confidence in the top housing official in the Obama Administration, U.S. Housing and Urban Development Secretary Shaun Donovan.

Congresswoman Richardson Announces $22 Million in HUD Neighborhood Stabalization Funds for Long Beach and Millions More for Counseling Partner Los Angeles Neighborhood Housing Services

January 18, 2010 Posted by California RealEstateRama

WASHINGTON, DC - January 18, 2010 - (RealEstateRama) — Congresswoman Laura Richardson is pleased to announce that the U.S. Housing and Urban Development Department (HUD) has awarded $22 million to the City of Long Beach and additional millions to the 37th District counseling partner Los Angeles Neighborhood Housing Services, Inc. The funds are a result of the American Recovery and Reinvestment Act of 2009 (Recovery Act) and are distributed as part of HUD’s Neighborhood Stabilization Program, which requires the funds be used to improve the quality of and access to housing for low- and moderate-income families.

California Receives More Than $318 Million Recovery Dollars to Rejuvenate Neighborhoods Hit Hardest by Foreclosures

January 15, 2010 Posted by California RealEstateRama

January 15, 2010 - (RealEstateRama) — Governor Arnold Schwarzenegger today announced that $318 million in American Recovery and Reinvestment Act (Recovery Act) funding has been awarded to entities in California by the Housing and Urban Development Department (HUD). These awards are funded through the federal Neighborhood Stabilization Program (NSP2) to help renovate and rehabilitate foreclosed homes, eliminate blight and reinvigorate and stabilize the affected neighborhoods hit hardest by foreclosures.

Congresswoman Laura Richardson Announces that HUD is Set to Provide $6.15 Million to Combat Homelessness and Provide Related Veterans Assistance and Childcare in Long Beach

January 12, 2010 Posted by California RealEstateRama

WASHINGTON, DC - January 12, 2010 - (RealEstateRama) — With the dramatic increase in homeless families caused by the current economic downturn affecting California and the nation, Congresswoman Laura Richardson is pleased to announce that the U.S. Department of Housing and Urban Development (HUD) is providing $6,152,772 to the City of Long Beach for preventing and decreasing homelessness.

Residents Invited to Free “Home Ownership and Credit” Workshop on Jan. 13

January 7, 2010 Posted by California RealEstateRama

January 7, 2010 - (RealEstateRama) — Long Beach residents are invited to a “Home Ownership and Credit” workshop on Wednesday, January 13, from 6:00 to 7:30 pm at the Neighborhood Resource Center, 425 Atlantic Ave.

Senators Feinstein and Merkley Introduce Measure to Spur Renewable Energy Development

December 18, 2009 Posted by California RealEstateRama

Washington, DC - December 18, 2009 - (RealEstateRama) — U.S. Senators Dianne Feinstein (D-Calif.) and Jeff Merkley (D-Ore.) today introduced a measure to spur the development of renewable energy employment and construction, such as wind and solar farms and solar panel factories. The bill would primarily extend and expand a popular Treasury Department grant program that was established in Section 1603 of the American Recovery and Reinvestment Act of 2009 in order to help diminish the impact of the economic crisis on the renewable energy sector

MORTGAGE WORKOUT SOLUTIONS FOR AT-RISK CALIFORNIA HOMEOWNERS OUTPACE FORECLOSURE SALES 2-1

December 16, 2009 Posted by California RealEstateRama

Washington, D.C.- December 16, 2009 - (RealEstateRama) — Faith Schwartz, Executive Director, of the HOPE NOW Alliance, testified today before the State Assembly Select Committee on the Safety and Protection of At-Risk Communities in California. Schwartz testified that through October 2009, more than 279,000 California homeowners received mortgage workout solutions. This compared to about 139,000 foreclosure sales in the state this year shows that workout solutions outpace foreclosures in sales 2 to 1 in California

Matsui Anti-Foreclosure Amendment Adopted Into Wall Street Reform Act

December 14, 2009 Posted by California RealEstateRama

Fights to Keep American Families in Their Homes. WASHINGTON, DC – The House of Representatives passed an amendment offered by Congresswoman Doris Matsui (D–California) to the Wall Street Reform and Consumer Protection Act (H.R. 4173) yesterday, which requires mortgage servicers or lenders participating in the Making Home Affordable Program to publicly report their progress in helping responsible homeowners stay in their homes. The amendment was introduced by Congresswoman Matsui with Rep. Betty Sutton (D–Ohio) and Rep. Kathy Castor (D–Florida), and debated on the House floor. Passage of H.R. 4173 is expected today.

$4 Billion In TARP Funds To Help With Foreclosures

December 14, 2009 Posted by California RealEstateRama

WASHINGTON, DC - December 14, 2009 - (RealEstateRama) — Congress took significant action to reform the nation’s financial system today with the passage of The Wall Street Reform and Consumer Protection Act. Passed with Congressman Cardoza’s support, the bill also includes provisions he requested that take aim at the nation’s continuing foreclosure crisis.

Federal Home Loan Bank of San Francisco, Local Organizations Host Foreclosure Prevention Workshops

November 27, 2009 Posted by California RealEstateRama

Events in Ukiah and Lakeport Help Consumers Facing Housing Issues. Ukiah, CA - November 27, 2009 - (RealEstateRama) — The Federal Home Loan Bank of San Francisco (FHLBank San Francisco), working with the Mendocino/Lake Housing Foreclosure Prevention Coalition, hosted community housing workshops last weekend in Mendocino and Lake Counties

MAYOR VILLARAIGOSA APPOINTS DOUGLAS GUTHRIE AS NEW GENERAL MANAGER OF THE LOS ANGELES HOUSING DEPARTMENT

November 23, 2009 Posted by California RealEstateRama

LOS ANGELES, CA - November 23, 2009 - (RealEstateRama) — Mayor Antonio Villaraigosa today announced the appointment of Douglas Guthrie as the new General Manager of the Los Angeles Housing Department (LAHD). Mr. Guthrie brings with him a wealth of experience in community development, housing affordability and urban policy.

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