News
Realtors Speak Up for Home Ownership
on Mayo 18 2012 - 9:18amThousands of Realtors® from across the country are expected to participate in a series of meetings, which run through May 19th. They will meet with legislators, public policy makers and industry leaders on Capitol Hill to discuss various housing-related issues including access to affordable financing, streamlining the short sale process, engaging comprehensive secondary mortgage market reform, and preserving the tax benefits of home ownership. Realtors® will also participate in sessions with representatives from such government agencies as the Federal Housing Administration, Federal Housing Finance Agency, Federal Reserve Board, Mortgage Bankers Association of America, and the U.S. Treasury.The highlight of the event will be the Rally to Protect the American Dream which will be held Thursday, May 17th from 9:30-11:00am. Almost 10,000 Realtors® are expected to gather at the Washington Monument to draw attention to the important role that housing plays in our economy.“...
Read MoreGovernor Brown Raids Housing Counseling Funds
on Mayo 17 2012 - 12:09pmAs part of the $26 billion National Mortgage Settlement announced earlier this year, big banks contributed $400 million to Attorney General Kamala Harris's office to administer the relief from the settlement. Just last Friday, Attorney General Harris announced that more than half of the funding would be given to housing counselors and legal service agencies who help homeowners avoid foreclosure.Then, yesterday, Governor Jerry Brown announced his May revision to the state's budget, which included his plans to raid those funds to plug budget holes. Governor Brown is following suit after several other states have announced their own intentions to raid this necessary funding. Click here for the New York Times coverage on this issue. CRC is strongly opposed to the Governor's plans to raid this funding. Housing counselors and legal service agencies have been struggling to provide necessary services to the millions of homeowners across the state who are struggling to stay...
Read MoreDon’t Be Scammed, Keep Your Home California is a Free Service
on Mayo 17 2012 - 9:35amSometimes asterisks and disclaimers aren’t needed. Sometimes free is really … free.We know, it’s hard to believe, especially in a world of hard-to-read fine print and legal notices on everything from baseball tickets to dry cleaner receipts.But Keep Your Home California is a free service, from the first call to the final confirmation. The federally funded, state-run program doesn’t ask for a dime from hard-hit homeowners.However, we’re aware some folks are calling homeowners or posting online that they can handle the application process for a fee, sometimes as much as several hundred dollars. We’ve heard about these possible scams from Sacramento to San Diego.So, let’s just cut to the chase – don’t hire and pay someone to help you with the application process for Keep Your Home California. Those dollars could be better spent buying groceries, covering health care bills or purchasing gas. We highly doubt anyone who is applying for the program really wants to give money away, so don’t....
Read MoreHUD STUDIES SHOW HOUSING COUNSELING HELPS FAMILIES PREPARE FOR HOMEOWNERSHIP AND KEEP THE HOMES THEY HAVE
on Mayo 17 2012 - 8:20amWASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today released two reports on the impact of HUD-approved housing counseling has for those families who purchase their first homes and those struggling to prevent foreclosure. In both studies, HUD found housing counseling significantly improved the likelihood homeowners remained in their homes. Both the pre-purchase counseling and foreclosure counseling studies enrolled clients in the fall of 2009 and early 2010. HUD found that 35 percent of participants became homeowners within 18 months of pre-purchase counseling and only one of those buyers subsequently fell behind in their mortgage payments. The foreclosure counseling study reveals that with a counselor’s help, nearly 70 percent of those counseled obtained a mortgage remedy to retain their home, and 56 percent cured their defaults and became current on their mortgages. “These two studies underscore the need to continue supporting housing counseling...
Read MoreAffordable Housing in High Demand
on Mayo 15 2012 - 6:43amWith the fair market price of a two-bedroom apartment currently at $1,900, approximately 58 percent of San Mateo County residents cannot afford housing, according to Michele Beasley, senior field representative of Greenbelt Alliance.Residents making minimum wage would need to work 183 hours each week in order to afford such high costs.“The lack of affordable housing and lack of economic stability is an equal opportunity issue,” said Daly City Mayor Sal Torres. “It matters to all of us, it affects all of us.”As part of San Mateo County’s Affordable Housing Week, Greenbelt Alliance, in partnership with Peninsula Interfaith Action, the Grand Boulevard Initiative, SamTrans and Housing Leadership Council of San Mateo County, hosted a bus tour Saturday to showcase affordable housing developments along El Camino Real, or "the Grand Boulevard."Beasley, facilitator of the tour, said that though the tour featured great examples of successful and affordable, community-minded buildings,...
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