As part of his “Blueprint for an America Built to Last,” previewed in last week’s State of the Union address, President Obama has laid out a specific plan to help Americans struggling to keep their homes. How will it affect California?
Among other things, the plan includes easier access to refinancing options, simplified mortgage disclosure forms, a pilot program to transition foreclosed property into rental property, and forbearance options. We’ve got one of the highest foreclosure rates in the country – will this be enough? Senator Barbara Boxer (D-CA) has issued a statement that she applauds the plan and will work to implement it.
Are you struggling to keep your house? What support do you think you need?
Josh Earnest, principal deputy press secretary, The White House
Lisa Sitkin, managing attorney, Housing and Economic Rights Advocates
Ed White, president, the Southwest Los Angeles Association of Realtors