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california foreclosure moratorium

California’s foreclosure moratorium does little to help homeowners

by Moe Bedard

SF Bay view- The California Foreclosure Prevention Fraud of 2009 – The California Legislature is now actively collaborating in the bankers’ coup d’état led by Government Sachs. Here are the details:
This is a great editorial on the recent California foreclosure moratorium that is really just more propaghanda to silence and confuse struggling homeowners.
I first reported [...]

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California Foreclosure Moratorium

by Moe Bedard

Attention homeowners! We have yet, another mortgage assistance bill to supposedly help you out and impose restrictions on mortgage servicers who “do not have” a loan modification program in place. Well, last time I checked (daily), almost every single lender and mortgage servicer has some type of shitty program in place.
Yes, I said shitty.
Meaning their [...]

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A Message to Lenders From California: Offer Loan Modifications or Else!

by Moe Bedard

“Many distressed homeowners in California are underwater by more than 5% on their home loan, which makes them ineligible to apply for refinance assistance,” said Lieu, author of a state foreclosure moratorium law that Gov. Arnold Schwarzenegger signed last week.

What is the The California Foreclosure Prevention Act?

The California Foreclosure Prevention Act, known as SB 1137 is the first law in the nation to impose a foreclosure moratorium and encourage quality loan modifications. SB 1137, the new California foreclosure prevention act became fully effective on September 6, 2008. This legislation only applies to foreclosures on loans made between January 1, 2003 and December 31, 2007. It sunsets December 31, 2013.

Who’s money is paying for all this?

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