Obama's Foreclosure Plan » california law http://www.obamaforeclosureplan.com Lets see how and if this Obama housing plan works Sun, 08 May 2011 02:47:41 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Foreclosure Moratorium in California – Effective June 22 09 http://www.obamaforeclosureplan.com/foreclosure-moratorium-in-california-effective-june-22-09/ http://www.obamaforeclosureplan.com/foreclosure-moratorium-in-california-effective-june-22-09/#comments Tue, 16 Jun 2009 17:35:31 +0000 Mark http://www.obamaforeclosureplan.com/?p=186 The State of California decided it has had enough of seeing families put out on the street, due to an economy and shady lending practices beyond the control of homeowners… so they are taking action!

California Foreclosure Prevention Act Passes

Effective Monday, June 22 2009, lenders must PROVE that they have exhausted all efforts to modify existing delinquent loans, before they can even begin the foreclosure process!

While many leaders fear it will have little immediate impact, the 90 day moratorium will enable some who have either lost jobs or fallen upon hard times, a second chance to turn things around before they find themselves homeless.

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