Highlights

• Governor Announces California as First State to Partner in CeBIT 2009
• BayBridge 360
• California Seat Belt Usage Reaches New Record High
• State Launches "Community Stabilization Home Loan Program"
• Governor Schwarzenegger Highlights Economic Benefits of Proposition 1C
• Governor Signs Legislation to Expedite Funding for Transportation and Housing Projects
• CTC Approves Landmark $3 Billion Goods Movement Program

News and Press Releases - 2007

State Launches Consumer Home Mortgage Information Web site, Hosts Series of Town Halls Statewide

In an effort to continue enhancing financial literacy, the Business, Transportation and Housing Agency and the State and Consumer Services Agency today launched the Consumer Home Mortgage Information Web site (www.yourhome.ca.gov) to help Californians make informed decisions when buying a home or deal with existing mortgages. The Administration also announced that a series of town hall meetings will be held statewide, in partnership with local legislators, to help educate the public about mortgage issues.

"In an effort to help borrowers who are struggling to make their mortgage payment, the Administration has developed a three pronged approach to address the increase in foreclosures. These efforts include consumer education, enforcement against unscrupulous licensees, and new regulations to ensure consumers better understand the loan products that are available," said Department of Housing and Community Development Director Lynn L. Jacobs. "By visiting www.yourhome.ca.gov or attending one of the town hall meetings, borrowers can obtain helpful information about the foreclosure process, tips on working with lenders to hopefully avoid foreclosure, and how to file a complaint with the appropriate regulatory agency, if a borrower believes a violation of the law occurred."

The first town hall will be hosted by Assemblymember Bonnie Garcia (R-Cathedral City) this Saturday, May 19, 2007 from 10 a.m. to 12 p.m. at the La Quinta Public Library in La Quinta. Senators Bob Dutton (R-Rancho Cucamonga), Michael Machado (D-Linden) and other legislators are working to schedule future town halls. All the town halls are open to the public. Additional town halls may be added in the future.

"The 'American Dream' of owning your own home must be kept alive," said Assemblymember Garcia. "We must do all we can to prevent families from losing their investment or worse, ending up homeless. I encourage people not to wait until they are in a crisis - anyone who bought a house in the past three years, is facing foreclosure or is currently looking to buy should attend one of these town halls. Bring your loan documents, delinquency notices or questions and get straight answers from the experts who will be there to help."

The Web site, which is also available in Spanish at www.sucasa.ca.gov, provides visitors with links to various helpful mortgage resources. The wealth of information available allows consumers to address their unique situations, with links for consumers who are looking to purchase a home and for those who need help with an existing mortgage. In addition, the Web site will keep Californians posted on scheduled town hall events so they will know when one is held in their area.

Led by Secretary Dale E. Bonner, the California Business, Transportation and Housing Agency oversees the activities of 13 departments consisting of more than 42,000 employees, a budget greater than $11 billion, plus several economic development programs and commissions. Its operations address financial services, transportation, affordable housing, real estate, managed health care plans and public safety.