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| Foreclosures |
HUD SECRETARY ANNOUNCES DISASTER ASSISTANCE FOR CALIFORNIA STORM VICTIMS
March 11, 2010 Posted by HUD
WASHINGTON, DC - March 11, 2010 - (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in California and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, debris and mud flows during January and February
Gov. Schwarzenegger Highlights Progress of Efforts to Keep Californians in Their Homes
February 26, 2010 Posted by Governor Schwarzenegger
Announces More Than a Quarter Million Loan Modifications Completed. February 26, 2010 - (RealEstateRama) — Governor Arnold Schwarzenegger today highlighted the success of his Administration’s efforts to keep California residents in their homes during these difficult economic times, a year after he signed the California Foreclosure Prevention Act (CFPA), a law to promote affordable loan modifications for distressed homeowners who might otherwise face foreclosure.
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.
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.
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 ENCOURAGES LOCAL HOMEOWNERS TO ATTEND FREE FORECLOSURE PREVENTION FAIRS
November 16, 2009 Posted by California RealEstateRama
LOS ANGELES, CA - November 16, 2009 - (RealEstateRama) — Mayor Antonio Villaraigosa today announced two foreclosure counseling clinics in South Los Angeles and the San Fernando Valley this Saturday, November 14, 2009. The free clinics are designed to educate the public about the foreclosure process, distribute information about foreclosure prevention, and present residents with options to modify loans and keep their homes.
Brown Calls on Banks and Loan Servicers to Detail Plans to Stem New Wave of Foreclosures
October 29, 2009 Posted by California RealEstateRama
Los Angeles, CA - October 29, 2009 - (RealEstateRama) — Concerned about a “new wave” of foreclosures, Attorney General Edmund G. Brown Jr. today called on ten major banks and loan servicers to detail their plans to assist homeowners facing dramatic monthly payment increases on Pay Option Adjustable Rate Mortgages.
Congresswoman Maxine Waters Calls for More Class Action Lawsuits to Prevent Foreclosures
October 20, 2009 Posted by California RealEstateRama
Washington, DC - October 20, 2009 - (RealEstateRama) — Congresswoman Maxine Waters (CA-35), Chairwoman of the Financial Services Subcommittee on Housing and Community Opportunity, recognizing the impact foreclosures are having on the country, called on the attorneys general from the nation’s 50 states to bring suit against lenders in order to force more loan modifications.“We need aggressive action to force lenders to modify the predatory loans that they made. State attorneys general and civil rights groups are taking the lead in preventing foreclosures by filing lawsuits against the originators of these predatory loans, and I commend them for their action,” Chairwoman Waters said
Brown Alerts Homeowners that New Law Prohibits Up-front Fees for Foreclosure Relief Services
October 15, 2009 Posted by California RealEstateRama
Sacramento, CA - October 15, 2009 - (RealEstateRama) — Attorney General Edmund G. Brown Jr. today issued a consumer alert warning California homeowners to avoid individuals and businesses that charge up up-front fees for foreclosure relief services in light of a just-enacted state law that makes this “abusive practice” subject to prosecution.
More than 750 Homeowners Benefit from Free Foreclosure Counseling and Mortgage Assistance at Multi-Agency Foreclosure Fair
September 21, 2009 Posted by California RealEstateRama
September 21, 2009 - (RealEstateRama) — Homeowners were invited to attend a free, comprehensive Foreclosure Counseling Fair on Saturday, September 12, to learn about foreclosure prevention and homeownership preservation. The event took place at Jordan High School on Atlantic Avenue near Artesia Boulevard in North Long Beach from 10:00 am to 3:00 pm. Registration began at 9:00 am; however, homeowners started lining up at 7:30 am.
Op-ed: Homeowners Facing Foreclosure Cautioned About Scams
September 16, 2009 Posted by California RealEstateRama
Op-ed by Congresswoman Lucille Roybal-Allard (CA-34) and Ken Wade, Chief Executive Officer, NeighborWorks® America. September 16, 2009 - (RealEstateRama) — A new wave of fraud is ripping homes out from under people who are stressed, desperate and facing foreclosure. The signs are literally nailed to posts and supermarket bulletin boards everywhere. They are advertised on television and on the internet: Refinance Your Mortgage; Facing Foreclosure? Modify Your Loan; Consolidate Your Debt, Refinance: Zero Down.
Brown Orders Mortgage Foreclosure Consultants to Post $100,000 Bond or Face Prosecution
August 12, 2009 Posted by California RealEstateRama
Los Angeles, CA - August 12, 2009 - (RealEstateRama) — Threatening possible criminal and civil prosecution, Attorney General Edmund G. Brown Jr. today ordered 386 mortgage foreclosure consultants to post $100,000 bonds and register with his office.
