Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

San Diego Foreclosure Prevention:

One of the first things President Obama tried to do when he took office, was to kick off the Help For Homeowners Program (H4H).  This was meant to be a “fairly” widespread program that was targeted to help at least $400,000 families save their homes from foreclosure.  Unfortunately, the program didn’t have the desired effect – helping only ONE family!  This doesn’t do much to help our La Costa or Carlsbad neighbors prevent losing their homes to foreclosure.

On May 20th, the Obama administration signed The Helping Families Save Their Home Act.  This is designed to increase home prices through reducing La Costa foreclosures.  This new act is designed ease requirements to qualify for aid and refinance underwater mortgages and to require lenders to provide principal write-downs for mortgages that are under water.

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