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California’s ALT-A and Option ARM mortgages are just beginning to re-set, causing payments to rise, and with almost half of the mortgages in California already underwater, these homeowners will be unable to refinance and foreclosures will increase as a result. Prime jumbo foreclosure rates are already up a mind blowing 634% as compared with January 2008 levels, according to LPS Applied Analytics.
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HUD SECRETARY DONOVAN ANNOUNCES $318,046,837 IN RECOVERY ACT GRANTS TO STABLIZE NEIGHBORHOODS, REBUILD ECONOMIES IN CALIFORNIA
Neighborhood stabilization grants to 12 California communities hard hit by the foreclosure crisis
WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is awarding $318,046,837 in Recovery Act funding to Alameda County, In
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It was the worst of times… it still is the worst of times.
It’s an incredible tragedy that’s going on here in California and all over the country. People’s lives are being torn apart. It’s heartbreaking… and then you realize that it could so easily be you. It’s truly amazing how small a difference there is between success and failure… between being a respectable homeowner to being an irresponsi
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