Efforts to ease California's foreclosure woes running into roadblocks.

(Nick Gromicko, CMI) #1

Efforts to ease California's foreclosure woes, among the worst in the nation, are running into roadblocks at the state Capitol. A rare legislative conference committee called to rescue a pair of stalled foreclosure-prevention bills is bogged down in marathon sessions. Meanwhile, Gov. Jerry Brown is pushing to use some of California's share of the $25-billion national mortgage settlement to plug holes in the state's budget, dismaying housing activists. Since the start of the real estate bust, foreclosures have been a persistent drag on the state's homeowners and economy. Experts see reducing foreclosures as key to getting the housing market back on track.

(Tim Spargo, CMI) #2

From where I've seen it in my markets... Lancaster Palmdale Santa Clarita etc... leaving a bunch of stalled foreclosures serves, well... no one except the inevitable and has dragged recovery on for an extended time.

In short.. not smart.

(Joseph A. Ferry) #3

Californians are in the very best of hands.

(Brian K. Smith) #4

Yeah that’s CA for you. Agents have been saying there is no inventory and that investors are scooping up the homes left and right (cash is king). Investors= no inspections!

Oh well, how its goes back to the mining claim for us!

(Russell J. Hensel) #5

Experts see reducing the foreclosures as the key to getting the housing market back on track. LMAO, do you really need experts for this information?

Experts within the home inspection industry have discovered that flashlight use within attic spaces greatly enhances the viewing the area.

EXPERTS. what an abused title...

(Jeffrey R. Pope, CMI) #6

"Moon Beam" is a joke. Unfortunately, CA got just what they asked for at the latest election. If I weren't so heavily "invested" in this state, I would certainly consider moving to a state where my vote might actually count.

(Doug Edwards) #7

Once again, it was the "Experts" in various professions that got "us" into this mess. I am a believer that there really is no such thing as an "expert", only varying degrees of ignorance.

(Tilak Kumar) #8

Thanks for sharing this information...