Foreclosure

Jul 3 2009

SB 1137 regulates mortgage lenders

The State Assembly Monday passed Senate Bill 1137 (Perata) to reform the home foreclosure process with a bipartisan 55-18 vote.

Apr 2 2009

Agencies offer free services to help residents save their homes

Los Angeles, CA -- If you’re trying to save a home that is either in foreclosure or that is about to go in that direction and the company offering to help asks for money up front, stop and consider some free alternatives.

There are a number of nonprofit organizations that will help you achieve the same aim, and their services are available for free.

Feb 7 2009

Joins thousands of Americans struggling against foreclosure

When Alvin Clavon received a foreclosure notice on his South Los Angeles home that he shares with his wife and three boys, he was stunned.

Clavon purchased the home in 2003 with a fixed rate loan. Two years later, he worked with a mortgage broker to refinance his home with another fixed rate loan. But just before he was to sign, a friend from church offered the family an interest-only, adjustable-rate mortgage.

Feb 5 2009

Councilman wants divestiture in banks not participating in foreclosure assistance.

 Los Angeles, CA – Tuesday, Los Angeles City Councilmember Richard Alarcón introduced a motion aimed at decreasing the devastating effects of foreclosures in Los Angeles. The motion, which was seconded by Council President Eric Garcetti and Councilmembers Ed Reyes, Janice Hahn and Bernard Parks, instructs the City to explore the divestiture of all deposits in banking and other financial institutions that fail to cooperate with foreclosure prevention efforts.

Jan 31 2009

Foreclosure fund planned

FAME Renaissance Assistance Corporation has launched a drive to raise $50 million to help home owners who are in foreclosure (and can be extricated) as well as those in pre-foreclosure or delinquent save their homes.

According to Denise Hunter, president and chief operating officer of the corporation, the fund will enable the organization to purchase the troubled loans from banks and refinance them at a five percent fixed interest rate, and FAME will service the loans.

Across Black America

Here’s a look at African American people and issues making headlines throughout the country.
 

Alabama
Freeman A. Hrabowski, president of the University of Maryland, Baltimore County, will address the annual African American Business Council luncheon on June 28. Hrabowski, who is chairman of President Barack Obama’s Advisory Commission on Education Excellence for African Americans, has a national reputation for his work studying the performance of minority students in math and science. Hrabowski, named one of the 10 best college presidents in the country by Time magazine, was a child leader in the Civil Rights Movement in Birmingham in the 1960s.
 

Arkansas
The Liberty Counsel filed a motion and a brief in United States District Court for the Eastern District of Arkansas seeking to intervene on behalf of a Concepts of Life crisis pregnancy center to defend against a suit filed by the American Civil Liberties Union and the Center for Reproductive Rights. The groups seek to impose a permanent injunction before the Human Heartbeat Protection Act goes into effect July 18. Liberty Counsel also filed a brief opposing the ACLU’s request for an injunction. The “Heartbeat” bill states that when a woman seeks an abortion at or after the 12th week, doctors must test for a fetal heartbeat before an abortion is performed and inform the pregnant mother that the child in her womb has a heartbeat. If a heartbeat is detected, a woman cannot have an abortion, except in cases of rape, incest, and if a mother’s life is in danger. “As we promised when the legislation was introduced, Liberty Counsel will defend this law without reservation for the people of Arkansas, born and pre-born,” said Matt Staver, founder and chairman of Liberty Counsel. “No right is more foundational than the right to life. Without life, all other rights are irrelevant,” concluded Staver.