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Washington, DC - March 10, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, spoke out today against Republican attempts to terminate the Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP). This was the second markup in as many weeks where Committee Republicans ended programs to help people stay in their homes and help communities weather the foreclosure crisis.

LOS ANGELES, CA - March 10, 2011 - (RealEstateRama) -- Fewer than three of five short sales close in California, illustrating the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures, according to a Short Sale Lender Satisfaction Survey conducted by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). The survey gauges REALTORS®’ experience in working with short sale transactions – transactions in which the lender or lenders agree to accept less than the mortgage amount owed by the current homeowner.

LOS ANGELES, CA - March 10, 2011 - (RealEstateRama) -- In an effort to bring attention to the broken and ineffective short sale process and galvanize industry leaders to help resolve the issue, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today has placed an open letter advertisement in California’s seven largest daily newspapers, calling on lenders and industry regulators to streamline and improve the short sale process.

Washington, DC - March 8, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, issued the following statement today after details of the proposed settlement between state attorneys general and mortgage servicers were revealed

SACRAMENTO, CA - March 7, 2011 - (RealEstateRama) -- A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Christine Varney, Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B. Wagner, U.S. Attorney for the Eastern District of California, announced.

Oakland, CA - March 7, 2011 - (RealEstateRama) -- California State Sen. Mark Leno (D-San Francisco) and Senate President pro Tem Darrell Steinberg (D-Sacramento) vowed at the end of last year’s legislative session that they would not give up on trying to prevent wrongful foreclosures of California homeowners. Their 2010 bill, which would have put an end to banks’ pursuing foreclosures while simultaneously considering loan modifications, passed the Senate but failed in the Assembly

Washington, DC - March 4, 2011 - (RealEstateRama) --Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, took Committee Republicans to task today for voting to defund two programs that help struggling homeowners.

Los Angeles, CA - March 3, 2011 - (RealEstateRama) -- The Foursquare Foundation announced today its ground breaking for the construction of a new $10 million richly-appointed Foursquare Senior Living residential community in one of Los Angeles’ most historic neighborhoods, Echo Park. Designed by the architectural firm KTGY Group, Inc., this new eco-friendly, pedestrian- and transit-oriented, 1.24-acre urban in-fill redevelopment project replaces some older housing units with 75 affordable senior apartment homes. Situated directly across from Echo Park, one of the city’s most iconic settings, Parkview Living, A Foursquare Senior Living community, will help mitigate the soaring demand for quality affordable housing to active seniors 62 years of age and over. Parkview Living, A Foursquare Senior Living community will be located across the street from the 88-year-old Angelus Temple, which is home to the Foursquare Church.

Washington, DC - March 2, 2011 - (RealEstateRama) -- In response to the recent rise in home foreclosures, Congresswoman Susan Davis (D-San Diego) introduced legislation to give veterans access to mortgage refinancing opportunities. The Veterans Home Loan Refinance Opportunity Act (H.R. 834) will allow veterans in Alaska, Oregon, California, Wisconsin, and Texas to take advantage of low-interest home loan refinancing options available from the state. Currently, veterans in these states can use the home loans to purchase a primary residence -- but not to refinance.

SACRAMENTO, CA - March 1, 2011 - (RealEstateRama) -- California homebuilders pulled permits for fewer new homes in January when compared to the same month a year earlier, the California Building Industry Association announced today.

Washington, DC - February 25, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today after Republicans on the Committee announced their intention to defund foreclosure prevention programs

Washington, DC - February 25, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, issued the following statement today after reports of a deal between the Obama Administration and mortgage servicers to settle systemic fraud issues in the servicing and foreclosure industry

SAN MATEO, CA - February 25, 2011 - (RealEstateRama) -- Congresswoman Jackie Speier (D-San Francisco/San Mateo) today announced that the Small Business Administration is offering a program that will help small businesses facing maturity of commercial loans or balloon payments refinance their mortgage debt

Downtown Los Angeles, CA - February 24, 2011 - (RealEstateRama) -- The Weingart Center today announced the award of a grant to create business ventures that will provide employment opportunities for the homeless. The sub-grant was awarded by REDF, a California-based organization focused on starting and growing employment-focused social enterprises that provide employment opportunities for individuals facing multiple barriers to employment. REDF received a federal Social Innovation Fund award administered by the Corporation for National and Community Service and by matching private support. Weingart is one of six California nonprofits selected for inclusion in the new initiative

LOS ANGELES, CA - February 23, 2011 - (RealEstateRama) -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today debuted its Pending Home Sales Index and released key distressed property data

SAN MATEO, CA - February 21, 2011 - (RealEstateRama) -- Congresswoman Jackie Speier (D-San Francisco/San Mateo) today announced that the Small Business Administration is offering a program that will help small businesses facing maturity of commercial loans or balloon payments refinance their mortgage debt.

Washington, DC - February 18, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.) reintroduced her legislation from the 111th Congress today that would make key investments in affordable public housing. H.R. 762, the Public Housing Reinvestment and Tenant Protection Act of 2011, contains provisions to revitalize housing units and neighborhoods; address one-for-one replacement issues; empower housing authorities to make reforms; and to create jobs, with support from Reps. Barney Frank (D-MA) and Nydia Velazquez (D-NY), her colleagues on the Financial Services Committee. She issued the following statement

SACRAMENTO, CA - February 17, 2011 - (RealEstateRama) -- California housing affordability increased slightly in the fourth quarter of 2010 with all but one of the state’s 28 metropolitan areas included in the report showing increases in affordability, the California Building Industry Association announced today

BEVERLY HILLS, CA - February 16, 2011 - (RealEstateRama) -- International real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that the company, along with an affiliate of DRA Advisors and with Kennedy Wilson Property Fund III, acquired Enclave at Adobe Creek, a 492-unit multifamily community in Petaluma, CA. The company also joined forces with The LeFrak Organization to purchase a 100% equity interest in Indigo Springs, a 278-unit multifamily community in Kent, WA.

February 15, 2011 - (RealEstateRama) -- Housing Authority President and CEO Rudolf C. Montiel joined Mayor Antonio Villaraigosa, Congresswomen Maxine Watters, Laura Richardson, the Watts Labor Community Action Committee (WLCAC) , Affordable Housing CDC, Inc. (AHCDC), Supervisor Mark Ridley-Thomas, local leaders to celebrate the grand opening of Dolores McCoy Villa Apartments.McCoy Villa apartments is a new low-income housing development in Watts. The 64 supportive housing units for large homeless families are fully furnished and offer a range of supportive services, including case management, budget counseling, employment training/placement, academic counseling, access to health care/substance abuse services, and assistance focused on families and independent living skills