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LOS ANGELES, CA - October 10, 2012 - (RealEstateRama) -- Today, Attorney General Eric Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, FBI Associate Deputy Director Kevin L. Perkins, and Federal Trade Commission (FTC) Chairman Jon Leibowitz announced the results of the Distressed Homeowner Initiative, the first-ever nationwide effort to target fraud schemes that prey upon suffering homeowners. The yearlong initiative, organized by the Financial Fraud Enforcement Task Force’s Mortgage Fraud Working Group, resulted in 530 criminal defendants charged in 285 federal cases filed in U.S. District Courts across the country. These cases involved more than 73,000 homeowner victims and total losses by those victims are estimated by law enforcement at more than $1 billion.

LOS ANGELES, CA - October 3, 2012 - (RealEstateRama) -- A 50-year-old resident of Tujunga was sentenced this morning to 37 months in federal prison for his participation in a home equity line of credit (HELOC) scheme that resulted in losses of more than $1 million.

LOS ANGELES, CA - October 3, 2012 - (RealEstateRama) -- California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast,” released today.

LOS ANGELES, CA - September 27, 2010 - (RealEstateRama) -- Attorney General Edmund G. Brown Jr. today directed Ally Financial, Inc., formerly known as GMAC, to prove immediately that it is complying with state law or, if it cannot, to cease and desist from foreclosing on California homes.

SACRAMENTO, CA - September 26, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced that the final parts of the California Homeowner Bill of Rights have been signed into law by Governor Jerry Brown.

Stockton, CA - September 25, 2012 - (RealEstateRama) -- Next Sat., Sept. 29, 2012, Congressman Jerry McNerney (D-Stockton) will attend a foreclosure assistance and first-time homebuyers workshop in Stockton. The Congressman will speak at the event at 10 am. HUD-certified counselors will be on hand to provide assistance, and first-time homebuyers can find out how to take advantage of the lowest interest rates in 20 years.

SANTA ANA, CA - September 24, 2012 - (RealEstateRama) -- The owner of a Pasadena mortgage brokerage firm was sentenced today to 108 months in federal prison for participating in a mortgage fraud scheme that obtained more than $30 million in loans.

SACRAMENTO, CA - September 24, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris announced the arrest Thursday of four suspects who have been charged with securities fraud, conspiracy and elder abuse for operating a Ponzi scheme that bilked dozens of investors of over $2.3 million

LOS ANGELES, CA - September 21, 2012 - (RealEstateRama) -- Real Estate Business Services® (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), today announced that Sandicor, Inc. is allowing access to the time-saving zipFormMLS-Connect® feature for its members. This will offer agents easy accessibility to MLS information while inside of their forms and get parties to the signing table quickly. Three local associations: East San Diego County & Pacific Southwest Association of REALTORS®, North San Diego County Association of REALTORS®, and the San Diego Association of REALTORS® own the regional MLS in San Diego County

LOS ANGELES, CA - September 18, 2012 - (RealEstateRama) -- California home sales declined in August but continued to maintain a strong pace, recording five consecutive months of year-over-year sales gains, while the median price reached a four-year high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.

Washington, D.C. - September 17, 2012 - (RealEstateRama) -- U.S. Senators Barbara Boxer (D-CA) and Robert Menendez (D-NJ) called on Congress to move quickly to pass their legislation that could help millions of American families refinance following the announcement that the Federal Reserve will take steps to keep interest rates low for homeowners and other borrowers

WASHINGTON, DC - September 14, 2012 - (RealEstateRama) -- Congresswoman Lois Capps (CA-23) joined her colleagues in the Sustainable Energy and Environment Coalition (SEEC) on the floor of the House of Representatives urging the Speaker to immediately renew tax incentives for wind energy. The renewable energy Production Tax Credit (PTC) provides an income tax credit for each kilowatt-hour of electricity produced by a renewable energy source, including wind, and has been a key factor in the expansion of clean energy over the last decade.

Washington, D.C. - September 13, 2012 - (RealEstateRama) -- The Senate Committee on Veterans’ Affairs today passed the companion legislation to Congresswoman Janice Hahn’s bipartisan H.R. 4287 that updates the definition of “homeless veteran” to include those fleeing domestic violence.

Washington, DC - September 13, 2012 - (RealEstateRama) -- Yesterday, Congresswoman Maxine Waters held a bipartisan panel discussion on the nation’s ongoing housing crisis and whether the use of eminent domain to seize underwater mortgages is a feasible alternative to provide struggling homeowners with relief. The event was the third in a series of panels Rep. Waters launched this summer to discuss current topics in financial regulation. To open the panel discussion, Rep. Waters delivered the following remarks:

LOS ANGELES, CA - September 13, 2012 - (RealEstateRama) -- Federal agents this morning arrested 10 defendants who worked at a Rancho Cucamonga-based business that allegedly offered bogus loan modification programs to financially distressed homeowners. As a result of the scheme allegedly run out of 21st Century Real Estate Investment Corp. and several related companies, more than 4,000 financially distressed homeowners lost at least $7 million in fees they paid to the company, and many homeowners lost their homes to foreclosure.

WASHINGTON, DC - September 12, 2012 - (RealEstateRama) -- Today, Congresswoman Lois Capps (CA-23) joined nearly 100 of her bipartisan colleagues in urging the Congressional leadership to ensure continued eligibility for critical U.S. Department of Agriculture (USDA) Rural Development program funding for over 500 rural communities nationwide, including Atascadero, Paso Robles, Morro Bay, Nipomo, and Carpinteria on the Central Coast. Specifically, the lawmakers are urging House leadership to include language to protect eligibility for Rural Development funding in the Continuing Resolution appropriations bill to be considered by Congress this month. The USDA Rural Development program supports a wide range of affordable housing, economic development, and critical infrastructure projects in rural areas through grants, loans, and technical assistance. Click here to read about an example of the projects supported by USDA Rural Development.

Washington, DC - September 11, 2012 - (RealEstateRama) -- Congressman Joe Baca (D-Rialto) introduced legislation that directs the Government Sponsored Housing Entities, Fannie Mae and Freddie Mac, to offer 50 year mortgage refinance terms to qualified homeowners. The Flexible Refinancing for American Families Act establishes a mortgage plan that would allow homeowners to receive immediate, short-term relief in the form of low monthly mortgage payments.

WASHINGTON, DC - September 11, 2012 - (RealEstateRama) -- Citing new momentum and support among a broad array of stakeholders, U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) today reintroduced the Responsible Homeowner Refinancing Act and called on Republicans to join them in passing the measure which would help millions of responsible homeowners refinance at lower mortgage rates.

WASHINGTON, DC - September 7, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today a $20,000 settlement with Land Home Financial Services (LHFS) to resolve allegations the lender violated the Fair Housing Act by refusing to approve a California couple’s mortgage application because the wife was on maternity leave

LOS ANGELES, CA - September 3, 2012 - (RealEstateRama) -- With thousands of California homeowners facing foreclosure, U.S. Rep. Karen Bass held a community town hall and consumer rights workshop to provide residents with one-on-one foreclosure counseling, financial guidance, as well as brief attendees on current legislation in Congress to help homeowners who are facing foreclosure stay in their homes.