Foreclosures Impact on Family Lives

Posted on July 22, 2009
Filed Under Foreclosure Homes | 1 Comment

Foreclosures are negatively impacting on family lives and needs a different kind of stimulation package. So far the focus has only been on stimulating banks and lenders. But family life is too precious and one cannot sit back leaving it to the mercy of either Washington or Sacramento.

Rancho Cucamonga City has put forward its own economic stimulus package to help the local economy stand up. It is high time other cities and localities did the same. Americans of all shades and hues have watched with a heavy heart Washington creating top heavy plans that have so far not delivered any goods – at least locally nothing is perceptible. Sacramento has won a name for itself for mismanagement of the hard earned dollars of the ordinary American. Dark clouds are gathering in the horizon and any moment another burst of rain and thunder might fall.

The locally elected mayor and the members of the city council are genuinely concerned albeit they are small fry compared to the bigwigs in the state and the nation. But the council and the mayor believe that the locals can make or break their own destinies. Thus they have taken their decision to give a fillip to the local economy a la their own style to ensure a better tomorrow for the city and the area.

Action started with the Rancho Cucamonga Ordinance 802 that has made a two pronged attack to lift up the local economy. Builders having difficulty getting finance can extend the checking of their plans for another extra year without paying more fees. Secondly development impact fees that contribute towards transportation, maintenance of parks and other beautification measures will be kept in abeyance until the closing of escrow. Till now the rule has been to pay even before the start of the project. When the economy is under pressure these measures allow for the creation of jobs and for the flow of money at the local level.

In another programme the first time purchasers of residential houses will get assistance in down payment if they apply for buying bank owned homes. This will lessen the staggering number of houses in the local real estate market. Moreover each house sold equates to one new home made. In addition, an extra $1.66 million has been appropriated this current year to help the families get the shelter they badly need.

Further more steps are being taken.

Popularity: 3% [?]

Related Tags

Nobody landed on this page from a search engine, yet!

Comments