Restructured HARP Helping More People

The Home Affordable Refinance Program, or HARP, is helping thousands more refinance, even if they're deeply underwater on their mortgages says an article in the Sacramento Bee.

The HARP restructuring – known as HARP 2.0 – took effect late last year and opened the floodgates for those who had been blocked from refinancing under an earlier, more-restrictive version of the program.

Read more here: http://www.sacbee.com/2012/10/21/4925123/restructured-harp-helping-more.html#storylink=cpy

Read more at: http://www.sacbee.com/2012/10/21/4925123/restructured-harp-helping-more.html

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Foreclosures are Down in Long Beach

Not quite a full recovery, but the good news is that foreclosures are down 18 percent in Long Beach according to a Press Telegram article.
http://www.presstelegram.com/breakingnews/ci_21749912/california-home-foreclosure-starts-fall-18-percent

The real estate market is a bellweather of the larger economy. When it improves then it means that buyers and sellers are feeling confident that they will have the monies necessary to purchase a home.

For those still faced with foreclosure, there are a number of programs in place to assist.

Check Out Update on What's Happening on Home Foreclosures

Freddie Mac (Photo credit: Wikipedia)http://www.citylimits.org/news/articles/4626/foreclosure-crisis-buzz-fades-protests-continue

Protests continue across the US as homeowners still seek pressure on the major lender Freddie Mac. This article from New York outlines the efforts of some citizen groups.

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Foreclosures Have Caused a Lot of Problems – Crime Isn't One of Them

 Check out story linked below.



Foreclosures Have Caused a Lot of Problems – Crime Isn't One of Them

Homeowners with underwater mortgages may be stuck for years - The Bay Citizen

Homeowners with underwater mortgages may be stuck for years - The Bay Citizen
http://www.sacbee.com/2012/07/27/4665138/cash-buyers-snap-up-30-percent.html#mi_rss=Business

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Gov. Signs Package of Bills Protecting Homeowners

SAN FRANCISCO, CA - JULY 11: California Attorney General Kamala Harris looks on after California Governor Jerry Brown signed the California Homeowner Bill of Rights (AB 278 and SB 900) on July 11, 2012 in San Francisco, California. Gov. Jerry Brown signed the California Homeowners Bill of Rights that establishes landmark protection rules for mortgage loan borrowers. The laws go into effect on January 1, 2013. (Image credit: Getty Images via @daylife)Gov. Brown has signed into law a package of bills aimed to protect homeowners. These bills were proposed by State Attorney General Kamala Harris and are patterned after the protections required of the 5 major banks who settled a mortgage fraud action against them. The protections are now required of all mortgage lenders.

See story: http://blogs.sacbee.com/capitolalertlatest/2012/07/jerry-brown-signs-california-foreclosure-protection-legislation.html#mi_rss=Top%20Stories

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Landmark Homeowners Protections Passed by California Legislature

California State Capital in Sacramento (Photo credit: Wikipedia) The California Legislature has passed a sweeping number of laws aimed at protecting homeowners from foreclosure. The package of bills was put forward by California State Attorney General Kamala Harris who in addition had worked out a massive settlement from the biggest 5 lenders over issues of mortgage fraud.

The laws simplify the foreclosure process by requiring one point of contacts; robo signing is outlawed as well as the practice of "dual tracking" -- foreclosing on a home while the owner is negotiating a modification of the loan to keep the house.

I put forward a request for the City Council of Long Beach to support this package of bills.



http://www.latimes.com/business/la-fi-homeowner-rights-20120703,0,5215367.story

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