Very interesting article. Been saying this all along, but this gives you a whole
other perspective on the debacle. As interesting as it is, it doesn't really address
the issue of the bank pursuing the homeowners. Are the 'rich' just special? Do
they know people in high places, or just how better to manipulate a messy
system?  View article.

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This does not bode well for our economy, environment and future. http://news.tradingcharts.com/futures/5/9/142122895.html

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$700M in federal funds have been set aside to assist foreclosure prevention in California.

Among the highlights,

1. Assistance with past due-payments
2. Subsidy for unemployed homeowners to assist with mortgage payments
   Assistance for short sale sellers and died-in-lieu of foreclosure sellers
   Mortgage principal reduction for borrowers seriously underwater

There are no details at this point on the last issue, but they will target
only homeowner's first mortgage (i.e., purchase money loans) and
only owner-occupied homes.

All aspects of the program are expected to be available no later than
Nov.1, possibly too late for some homeowners.

Program details can be found at www.keepyourhomecalifornia.com

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Media sources are reporting that the market is showing signs of recovery as prices are rising.

Whoa, Nelly. Don't shoot the messenger. As with any major reovery, we all know it takes a long
time, possibly years. Unemployment has been and will be a key indicator. Also, as you know,
if you have been receiving my emails, following my blogs and the reliable media, there are millions
of homeowners who have yet to receive Notice of Defaults and foreclosure notices. The
government programs have not even put a dent in the situation-the bureacracy is just too big.
They will have to proceed sometime. I receive regular updates on these NODs, and they are
increasing. You may also notice in the local papers that trustee sales are also on the rise this month.

So  what we are seeing now is the usual traditional spring sellers (not your REOs or short sales) ,
not as many as usual, but these sellers most likely are anticipating this and taking advantage of what may be a small window of vopportunity.

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True to Earth Day this year, contractors who remodel old homes built before 1978 are now required to certified by the EPA. This will raise the cost for these guys, which in turn will raise the cost of remodeling. (Most reputable companies in California were already doing this).

Jim Salata, friend Danny Salata's brother was featured in an article in The Willow Glen Resident, and noted it is a
complicated and individual issue for each home, but anything we can do to help the environment is helpful.

The DIY Academy at 1244 Bascom Ave. is offering four free classes on lead based paint removal on May 1st. wwww.diyacademy.com

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1.

Yo Lisa! Thanks for the links and photos.

Keith

Posted Thu May 06 09:22AM by

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