Oakley CA Foreclosure Moratoriums

Oakley CA Foreclosure Moratoriums

Good Idea or Just Another Kick of The "Can" Down the Road? Is it just me, or are there others out there who are tired of the same old dysfunctional approach to a serious problem. I am referring to the latest Foreclosure Moratorium that has be put into effect in California. Haven't we recently been down this road? My most recent check of the numbers show that there are record numbers of Foreclosures that happened right aftter the last Moratorium. Go figure! But how could that be? Weren't the Moratoriums put into place to allow homeowners more time to workout their loan woes with their lenders? Oh yeah, I forgot, during the Last Foreclosure Freeze lenders had the OPTION to work with distressed borrowers. This time around, Lenders are supposed to provide proof that they have made every effort to work with delinquent borrowers. Whew, what a difference a day makes!

So let me see if I understand the goal of this new Foreclosure Moratorium (California). Distressed Homeowner's get 90 more dayst to be led on by their Lender in hopes of getting loan terms that make sense (i.e. better rate, longer term, principal reductionNOT). I am looking into my Crystal Ball...Ooops I mean my "Magic 8" Ball! Oh, Magic 8 ball, will lots of homeowners be saved by the new Foreclosure Moratorim? I am shaking the ball and the answer is..... NO! Wow, I was really hoping that the old "Magic 8" Ball would give me a much more optimistic outlook!

We need real solutions, right now. Our local Politians are obviously, for the most part clueless and powerless as to how to really put a fire under these Lenders behinds to get realistic solutions to our national foreclosure crisis. Blaming the tiny number of Loan Mod Scammers and all but shutting out those who work in the trenches and can provide viable, realistic solutions(Real Estate Brokers and Agents) out of the dialogue prolongs the unecessary suffering of families in distress.

The current California Foreclosure Moratorium will buy many time to stay in their home just beyond Summer and give many the false hope that they perhaps they will be in their home for the holiday season. But in reality, the moratorium has just kicked the "can" down the road a few months and many will once again be facing foreclosure just in time for Christmas!

Oakley CA Foreclosure Moratoriums