The subprime mortgage crisis has had a tremendous impact on the quality of life in California. Homeowners struggle to keep up with ballooning mortgage payments and deal with the potential of foreclosure, fracturing families and lives. But help is out there. This Web page serves as a one-stop-shop for news, information and events regarding the subprime mortgage crisis and avoiding home foreclosure.

How Can Your City Help?

• *Housing Crisis Overview and How Your City Can Help - added Dec. 12, 2007

* - special thanks to League Board Member Ken Cooley for the above document.

League of California Cities Updates

• "League Analysis ofNew Federal housing Available," (appeared in the 9-12-08 issue of Priority Focus)
• "How Local Governments Can Help Respond to the Mortgage Crisis," by Dustin Hobbs (appeared in the Jan. 2008 issue of Focus on Housing, the League’s housing newsletter) - added Jan. 8, 2008

Local Resources

• News & Events - updated Sept. 2, 2008
• City of Rancho Cordova Homeowner Mortgage Clinic Video and Resources - added Jan. 2, 2008

State Resources

• News & Events - updated Dec. 21, 2007
• Gov. Schwarzenegger Agreement
• Gov. Schwarzenegger Issues Statement on President Bush’s Announcement of Mortgage Plan - added Dec. 19, 2007
• Gov. Schwarzenegger Issues Statement Regarding Federal Mortgage Plan Announcement - Feb. 13, 2008
• 2008 Legislation

Federal Resources

• News & Events  - updated Dec. 26, 2007
• President Bush Agreement
• Mortgage Forgiveness Debt Relief Act of 2007 Fact Sheet - added Dec. 21, 2007
• Project Lifeline Announcement - Bush Administration Program to Help Potential Foreclosure Victims - added Feb. 13, 2007
• Legislation

Useful Links

• www.hud.gov: Web site of the United States Department of Housing and Urban Development: Find a certified financial counselor and get advice on how to avoid foreclosure.
• www.hud.gov/foreclosure: HUD Tips for Avoiding Foreclosure and Other Resources
• www.fha.gov/foreclosure: Web site of the United States Federal Housing Administration: offering tips on how to keep your family home.
• www.nw.org: NeighborWorks is a highly respected not-for-profit organization that specializes in assisting people in improving their housing and options for home ownership. Visit NeighborWorks for online resources, including the "Center for Foreclosure Solutions."
  • IMPORTANT NOTE : The legitimate NeighborWorks’ Web site is simply www.nw.org. Neither www.neighborworks.com or www.neighborworks.org are bona fide Web sites of the NeighborWorks organization. Do not direct your people to these sites.
• www.995hope.org: Visit the Homeownership Preservation Foundation or call for counseling assistance any time day or night to 1-888-995-HOPE (4673) .
• www.claritas.com: Learn more about the state and local population demographics, market segments and population characteristics.
• www.dataquick.com: DataQuick offers real estate information solutions for a wide array of transaction-related purposes.
• www.foreclosure.com: Information on foreclosure activity
• www.realtytrac.com: RealtyTrac bills itself as the only major real estate website to feature foreclosure, auction, bank-owned, for-sale-by-owner, resale, MLS and new construction properties.
• www.ftc.gov: The Federal Trade Commission has enforcement authority in the case of mortgage companies for the following laws: Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Truth in Lending Act.
• www.federalreserve.gov: Persons with questions about the meaning of any "Regulation Z" provision under the Truth in Lending Act, the Home Mortgage Act, or the Equal Credit Opportunity Act can request formal board or unofficial staff interpretation.
• www.fcc.gov: The Federal Communications Commission can investigate complaints about unsolicited telephone marketing calls and faxes.
• www.corp.ca.gov: The California Department of Corporations has enforcement authority over the California Residential Mortgage Lending Act, the California Finance Lenders Law and Escrow Law.
• www.dfeh.ca.gov: The Department of Fair Employment and Housing can investigage and/or resolve complaints of unlawful discrimination in housing or lending practices.
• www.dre.cahwnet.gov/mlb_home.html: The California Department of Real Estate has information for both homebuyers and the industry.
• www.responsiblelending.org/consumers: Educational materials and assistance on mortgage lending, payday lending and foreclosure resources.
• www.cambweb.org: California Association of Mortgage Brokers.