California RealEstateRama

LOS ANGELES, CA - October 1, 2010 - (RealEstateRama) -- A federal grand jury has indicted a Downey man on a series of fraud charges for allegedly running two related fraud schemes—a Ponzi scheme that took more than $11 million from more than 300 victims, and a mortgage fraud scheme that preyed on homeowners by stealing the equity from their homes and secretly taking title to their properties.

LOS ANGELES, CA - October 1, 2010 - (RealEstateRama) -- Representatives of the Financial Fraud Enforcement Task Force met in Los Angeles today for the latest in a series of Mortgage Fraud Summits. The task force—established by President Barack Obama in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes—is comprised of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement agencies.

Los Angeles, CA - October 1, 2010 - (RealEstateRama) -- Councilmember Alarcon will attend to help kick-off the event. Additional organizations supporting the fair include Los Angeles Neighborhood Housing Services (LA NHS), City of Los Angeles, FDIC, Keep Your Home Foundation, Bet Tzedek, Legal Aid Foundation-Los Angeles and Public Counsel. The CALIFORNIA ASSOCIATION OF REALTORS(r) is working in conjunction with the partnership as well

Downtown Los Angeles, CA - September 30, 2010 - (RealEstateRama) -- Congresswoman Lucille Roybal-Allard joins community leaders in welcoming U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan to the site of the New Genesis apartment project on Main Street.

Washington, DC - September 30, 2010 - (RealEstateRama) -- Today, Rep. Gary Miller introduced H.R. 6256, the Strengthening FHA Through Shared Equity Homeownership Act of 2010. This legislation would establish a shared equity homeownership pilot program through the Federal Housing Administration to lessen the risk of homeownership and decrease FHA’s vulnerability to fluctuations in the housing market.

Washington, DC - September 30, 2010 - (RealEstateRama) -- Today, Congressman Joe Baca (D-Rialto) introduced legislation to assist struggling homeowners seeking loan modifications through the often complex Home Affordable Modification Program (HAMP). The Office of the Homeowner Advocate Act of 2010 creates an independent office to assist homeowners, housing counselors, and attorneys in resolving problems with HAMP, and give homeowners a greater level of control over the loan modification application process.

Washington, DC - September 29, 2010 - (RealEstateRama) -- Last night, the House of Representatives voted to unanimously approve legislation introduced by Rep. Brad Miller (D-NC) and co-sponsored by Rep. Joe Baca (D-Rialto) designed to promote job growth in the home construction industry. H.R. 6191 modifies the Small Business Jobs and Credit Act of 2010 to allow healthy lending institutions to extend credit for residential construction and land development to U.S. homebuilders.

FRESNO, CA - September 29, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner and Stanislaus County District Attorney Birgit Fladager announced that yesterday a federal grand jury returned an indictment charging James Lee Lankford, 71, of Modesto, with 49 counts of mail fraud, and Jon Vance McDade, 46, also of Modesto, with 49 counts of mail fraud and one count of bank fraud

San Francisco, CA. - September 27, 2010 - (RealEstateRama) -- International law firm Nixon Peabody LLP announces the arrival of partner Allan E. Low. A resident in the firm’s San Francisco office, Mr. Low will be a member of the real estate practice group focused on real estate finance, transactions and real estate development projects. He joins Nixon Peabody from Luce Forward in San Francisco

San Francisco, CA - September 27, 2010 - (RealEstateRama) -- International law firm Nixon Peabody LLP announces the arrival of partner Allan E. Low. A resident in the firm’s San Francisco office, Mr. Low will be a member of the real estate practice group focused on real estate finance, transactions and real estate development projects. He joins Nixon Peabody from Luce Forward in San Francisco.

Los Angeles, CA - September 24, 2010 - (RealEstateRama) -- In partnership with Councilmember Richard Alarcon and the Los Angeles NeighborWorks® Center for Foreclosure Solutions (CFS) families who are in mortgage distress and facing foreclosure can get immediate help at the upcoming Help & Hope Fair.

WASHINGTON, DC - September 24, 2010 - (RealEstateRama) -- Today, Congresswoman Laura Richardson announced that Long Beach has been awarded $14.9 million in grants from the U.S. Department of Housing and Urban Development (HUD). These grants were awarded through three different HUD programs targeted at providing decent housing and living environments for low- and moderate-income persons.

SACRAMENTO, CA - September 21, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that John B. Ngo, 29, of San Ramon, was sentenced today by United States District Judge William B. Shubb to nine months in prison, to be followed by two years of supervised release. Ngo pleaded guilty on December 17, 2007 to one count of making a false declaration before the grand jury.

SACRAMENTO, CA - September 21, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that John B. Ngo, 29, of San Ramon, was sentenced today by United States District Judge William B. Shubb to nine months in prison, to be followed by two years of supervised release. Ngo pleaded guilty on December 17, 2007 to one count of making a false declaration before the grand jury.

Irvine, CA (September 20, 2010) – Jamboree Housing Corporation today announced that H.O.M.E.S., Inc. (Helping Our Mentally Ill Experience Success) will become affiliated with Jamboree on an ongoing basis. According to Laura Archuleta, Jamboree’s president, the decision came after months of discussions between the two organizations’ boards of directors and takes effect October 1, 2010. Like Housing with HEART, Jamboree’s resident services group, H.O.M.E.S. will continue to operate as a separate 501(C)(3) organization under the Jamboree name and governance.

SACRAMENTO, CA - September 16, 2010 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced today that Wallace Chin, 72, of Sacramento, was sentenced today by United States District Judge John A. Mendez to 12 months and one day in prison, to be followed by six months of home detention, and one year of supervised release. Chin was also required to pay $104,997 in restitution to the Internal Revenue Service. He pleaded guilty on May 25, 2010 to one count of filing a false tax return.

September 13, 2010 - (RealEstateRama) -- With more than 20 years of experience in the industry, Gary has earned the deserved reputation as a ‘go-to’ attorney in the affordable housing industry,” said Stephen J. Wallace, leader of Nixon Peabody’s Affordable Housing practice. “His arrival significantly expands our affordable housing practice on the West Coast.”

Washington, DC - September 10, 2010 - (RealEstateRama) -- Today, Congressman Joe Baca (D-Rialto) announced that San Bernardino County and the cities of Fontana, Ontario, Rialto, and San Bernardino have collectively been awarded over $20 million in Neighborhood Stabilization Program (NSP) grant funding from the Department of Housing and Urban Development (HUD). The NSP is designed to assist states and local governments in addressing the effects of abandoned and foreclosed housing.

Washington, DC - September 9, 2010 - (RealEstateRama) -- Congressman John Barrow (GA-12) announced today that Savannah and Augusta will receive a combined $2.18 Million in funding to reverse the effects of the foreclosure crisis. The City of Savannah will receive $1,027,553 and Augusta-Richmond County will receive $1,161,297. The grants announced today will provide targeted emergency assistance to state and local governments to acquire, redevelop, or demolish foreclosed properties.

SACRAMENTO, CA - September 9, 2010 - (RealEstateRama) -- Today, Congresswoman Doris Matsui (D-Sacramento) announced that the Sacramento area will receive $8.2 million in Federal funding to help support and stabilize our local housing market. Funding will be used to purchase and redevelop foreclosed and abandoned homes. The funding was made available by the Department of Housing and Urban Development’s (HUD) as part of the third round of grant funding announcements under the Neighborhood Stabilization Program (NSP3), and includes $4.5 million for Sacramento County and $3.7 million for the City of Sacramento. NSP3 funding is designed to assist communities that have suffered from high rates of home foreclosures and abandonment