Update! 

Governor Vetoes C.A.R.-Sponsored

Anti-Deficiency Bill

On Thursday, Governor Schwarzenegger vetoed SB 1178 (Corbett), C.A.R.’s sponsored bill that would have expanded anti-deficiency protections. In his veto message, the Governor made clear his view that the bill interferes with an existing contract. While disappointed in the Governor’s misinterpretation of the bill, C.A.R. is grateful to the almost 13,000 California REALTORS(R) who urged him to sign the bill by responding to the Red Alert.

C.A.R. sponsored SB 1178 to better protect homeowners going through foreclosure. SB 1178 would have ensured that homeowners keep the same “anti-deficiency” protections they have in the original loan after the loan has been refinanced.

California’s anti-deficiency protection for “purchase money” mortgages says that if a homeowner defaults on a mortgage used to purchase his or her home, the homeowner’s liability on the mortgage is limited to the property itself. The law has worked well since the 1930s to protect borrowers, ensure the quality of loan underwriting and allow borrowers brought down by financial crisis to get back on their feet.

Unfortunately, the 1930s law hasn’t kept up with current times. Current law doesn’t apply to loans used to refinance the original purchase debt, even if the refinance was only to gain a lower interest rate. Recent years of low interest rates have induced tens of thousands of homeowners to refinance their mortgages. During those years, almost no one realized that refinancing their mortgage to obtain a lower rate, they were forfeiting their protections and were becoming personally liable on the new note.

SB 1178 would have corrected this injustice by extending anti-deficiency protections to those who have refinanced their loans.

Thank you again to everyone who joined C.A.R.’s Government Affairs Team and fought for our clients.

Buy Buy Now—

Yes you too can help Protect California Homeowners Rights even if you are not a Realtor.

Takes only 2 minutes of your time to make your voice heard.

If you will notice you must change the top of the letter to read as a citizen of california or however you want to describe yourself because it is built in as coming from a Realtor–I think as a resident of california you should allow your voice to be heard even if you are not a Realtor.

http://takeaction.realtoractioncenter.com/campaign/sb1178

Thanx for your support.

Today- I am posting about Real Estate

Here is some Interesting Real Estate News for You Courtesy of The Sacramento Bee and The California Association of Realtors

http://www.car.org/media/pdf/consumer/Beyond_the_Headlines__081210.pdf

Buy Buy Now

 

 I took this pic in June of 2005 —When Lake Oroville was Full —

How many people are fortunate enough to live in an area where there is a Lake and a River or Water period,  in or close to where they live.  Where the temperatures are moderate in the winter, per me anyway.  I live at the 2000 foot elevation level, up and out of town where it will get to 32 degrees sometimes. Rain is better (more) in the Foothills than the Valley where all the little seasonal creeks come alive and waterfalls come gushing out the sides of the hills as if they are alive—they are—it is pretty kewl.  Summer time gets Warm to Hott here 80′s, 90′s, 100′s but tolerable for the old bones because it’s not wet heat like in other areas of the country.  There are links here on my site for you to sign up if you like or drop me an email or call if you would like to talk property. Today this post is just bragging on how lucky I am to Live Here and Enjoy Lake Oroville and the Feather River City.

Buy Buy Now

Chili Pepper Hot temperatures are not slowing down buyers looking for a good deal and a new place to call home which is why I haven’t been here much lately.

It is good to go to the Feather River and put your feet in the cool water for a while and then go look at more homes for sale which I have done recently and it was really refreshing if only for 10 minutes.

Been working evenings so haven’t made it to The RiverBend Park for Concerts Thursday afternoon/evenings.   If you haven’t been there it’s a fun local event by the water and it’s Free that you should check it out.

There are still some decent fair priced homes in the market.

Buy Buy Now.

FIREWORKS over Lake Oroville show starts Sunday July 4th 9:30pm.  Food and drinks will be sold on the dam.

This event is made possible by Feather Falls Casino’s new Feather Falls Brewing Company, Bidwell Canyon Marina, the City of Oroville, the Oroville Area Chamber of Commerce and the Lake Oroville Marina at Lime Saddle.

We certainly apprecaite their efforts and Thank Them for this show.

I wanted to Thank All of You Who Are Active, Reserve, Retired Duty, Service Men and Women for Your Personal Sacrifices Which Allowed Us to Still Have Our Freedom–and for those many men and women who have given the ultimate sacrifice—May God Bless You.— Long Live Our Flag and what it represents— Freedom.

FEATHER FIESTA DAYS BIKE SHOW
Gold Country Casino & Hotel Presents Western Pacific Brewing & Dining Bike Show.
Win Cash, Trophies and “Bragging Rights”.
Join us!—Bikes Will Be Classed On Arrival, If You Bring Something We Don’t Have A Class For,
We Will Create One!

FRIDAY MAY 7, 2010 @ 5:00 PM
Gold Country Casino & Hotel
4020 Olive Hwy, Oroville CA
Join The Exciting Night—Bike Judging, Drinks, Great Food, Live Music By Honey Circuit.

SATURDAY MAY 8, 2010 @ 12:00 NOON
Feather Fiesta Days at Western Pacific Brewery
2191 High Street Downtown Oroville – Where the Awards Ceremony will take place.
Enjoy A Cold Brew Or Cocktail—Live Music By Heading Due West.

REGISTRATION:    Jimmy “Did It” Evans   (530) 990-0238 or (530) 534-8866

Email:   jimmyevansdidit@hotmail.com

VENDOR / SPONSORSHIP:

Jody Carlson   (530) 534-9892

 Email:   jcarlson@goldcountrycasino.com

http://www.goldcountrycasino.com/images/gcch_promotions/promotion_preview_03/promotions_preview_03.htm

This Post Courtesy of Gold Country Casino——————————————————————-

 

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