The Obama administration ramps up mortgage refinancing effort as the White House hopes by the end of the month to announce changes that will make it easier for more homeowners — perhaps millions more — to participate, according to Don Lee, Los Angeles Times. The article goes on to say, “The Obama administration, worried that the housing crisis is strangling the economic recovery, is stepping up efforts to aid the battered market as another wave of home foreclosures threatens to drive values down further and rattle consumer confidence again. But the administration’s piecemeal approach — giving temporary reprieves to the jobless, converting empty homes into rental properties, allowing more people to refinance mortgages — isn’t going to help much, said industry leaders and even some lawmakers in the president’s own party.”

At this point, you still need to review all your legal options if you are facing foreclosure. California has laws on the books that can help you save your home. Contact us for more information.