Southern California Mortgage Crisis

Listen Here: SoCal NPR – HOUSING & THE CA BUDGET CRISIS

3. August 2009

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 9 minutes). Click the arrow below to play. HOUSING & THE CALIFORNIA BUDGET CRISIS Steve Ward Anthea Raymond July 31, 2009 Fontana City Mayor Mark Nuaimi and Dave Willmon of the League of California Cities discuss California’s fiscal problems and how the [...]

Criteria to Qualify for 90-Day Foreclosure Delay

26. June 2009

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The California Foreclosure Prevention Act, was introduced by Sen. Ellen Corbett, D-San Leandro, and attached to the budget package in February. The 90 foreclosure moratorium took effect June 15th and covers owner-occupied homes where the first loan was recorded between Jan. 1, 2003, and Jan. 1, 2008. California’s non-judicial foreclosure process requires a mortgage loan servicer [...]

Listen here: SoCal NPR – California Foreclosure Moratorium

25. June 2009

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Loan modifications are on the minds of many in the Southland these days. And more are succeeding. Over the first three months of this year over 20-thousand modifications a month were reported to the California Department of Corporations, up from around 15-thousand in the previous year. A new law is designed to make lenders even more willing to modify loans It's the California Foreclosure Prevention Act, which went into effect on June 15th.

Lower Your Property Taxes

19. June 2009

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Most homes have gone down in value in the past 24 months. If your home value was assessed by the county for tax purposes anytime in the past five years, you may be paying property taxes on a value that does not reflect current economic reality. Recognizing this, most counties in Southern California offer a [...]

Public Private Investment Partnership

19. June 2009

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This is a U.S. Treasury program that states, “Efforts to Improve Affordability for Responsible Homeowners: Treasury has implemented programs to allow families to save on their mortgage payments by refinancing, assist responsible homeowners in avoiding foreclosure through a loan modification plan, and, alongside the Federal Reserve, help bring mortgage interest rates down to near historic [...]

Making Your Home Affordable

19. June 2009

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The “Making Home Affordable” (sic) program found at www.makinghomeaffordable.gov is a federal program that is intended to help refinance homes that have teaser rates or low adjustable rates and thereby avoid the inevitable rate reset that will raise payments to an unaffordable level. It may also reduce the principal for qualifying loans. There is an [...]

Bankruptcy Judge Option: Lower Principal

19. June 2009

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Known colloquially as the “cram-down” option, the Obama administration had surfaced this idea as a means for bankruptcy judges to allow people to keep their homes. The program was intended to confir the power to lower the principal owed on a home loan down to the now-prevalent market value, thereby recalculating the monthly mortgage payment [...]

Listen here: Socal NPR – Mortgage Modifications

11. June 2009

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KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 5 minutes). Click the arrow below to play. MORTGAGE MODIFICATION 91.9 KVCR – June 5, 2009 By Anthea Raymond The Inland Empire has been hit HARD by the mortgage crisis. Interest rates have reset on many loans. Unemployment in the [...]