Archives

Washington, DC - October 6, 2010 - (RealEstateRama) -- Today, Congresswoman Lucille Roybal-Allard joined 30 other Members of the California Democratic Congressional Delegation in sending a letter to Attorney General Holder, Federal Reserve Chair Bernanke, and Comptroller of the Currency Dugan requesting investigations into systemic wrongdoing by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures.

LOS ANGELES, CA - October 4, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. has demanded that JP Morgan Chase prove immediately that it is complying with state law or, if it cannot, halt foreclosing on California homes.

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

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 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.

August 17, 2010 - (RealEstateRama) -- Latinos and African Americans in California have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the state, according to first-of-its-kind research released today by the Center for Responsible Lending.

August 6, 2010 - (RealEstateRama) -- The Long Beach Housing Development Company (LBHDC), together with Councilmember Dee Andrews, 6th District, The Los Angeles Neighborhood Housing Services (LANHS), and Los Angeles County NeighborWorks Center for Foreclosure Solutions invite the public to the "Help & Hope" Foreclosure Prevention Assistance and Homebuyer Education Fair at Long Beach Polytechnic High School. The free event has the dual purpose to “help” families prevent foreclosure and provide “hope” to families who dream of purchasing a home now that home prices are lower than in previous years. Congresswoman Laura Richardson is expected to attend.

SACRAMENTO, CA - June 28, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today launched an investigation aimed at protecting the rights of the "forgotten victims" of the housing market collapse -- the tens of thousands of tenants facing eviction from buildings that have been foreclosed by banks.

LOS ANGELES, CA - May 20, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today announced that nine men engaged in a Southern California boiler room, tricked out in high-roller style with a roulette wheel and other casino equipment, have been charged with 97 criminal counts for stealing at least $2.3 million from more than 1,500 desperate homeowners who were promised loan modifications but received no relief.

WASHINGTON, DC - May 11, 2010 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to Imperial County in California and provide support to homeowners and low-income renters forced from their homes following last month's earthquake.

SANTA ANA, CA - April 9, 2010 - (RealEstateRama) -- In a clear "warning shot" to unscrupulous loan-modification consultants, Attorney General Edmund G. Brown Jr. today announced that two women have each been sentenced to one year in jail and ordered to repay dozens of homeowners who were charged thousands of dollars in up-front fees for non-existent foreclosure-relief services.

LOS ANGELES, CA - April 8, 2010 - (RealEstateRama) -- California homeowners sued Bank of America (NYSE: BAC) on Tuesday claiming the lending giant is intentionally withholding government funds intended to save homeowners from foreclosure, announces Hagens Berman Sobol Shapiro

Santa Ana, CA - March 22, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today shut down two fraudulent foreclosure-assistance companies and secured a court judgment that prohibits three individuals from working in the real estate industry and provides more than $1 million in restitution for victims left with "false hope" after paying upfront fees for nonexistent loan-modification services.

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

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.

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.

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.

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

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.