Monday, Apr 9 2012 2:25PM
Reuters reports that numerous California nonprofit organizations are pushing for further investigation of the housing crisis, as many homeowners are still threatened by foreclosure.
Reuters reports that numerous California nonprofit organizations are pushing for further investigation of the housing crisis, as many homeowners are still threatened by foreclosure.
According to the source, a recent survey found 75 percent of California nonprofit organizations surveyed said they expect an increased demand for their services, including foreclosure prevention services and loan modifications in 2012.
The same survey revealed that more than one-third of respondents said they had to cut back on their services due to a lack of funds, which continue to hinder their ability to help homeowners during the slow recovery of the housing market.
Nonprofit organizations are also pushing the Federal Housing Finance Agency (FHFA) to allow the government-sponsored mortgage agencies, Fannie Mae and Freddie Mac, to reduce principal for delinquent homeowners.
While many factors of the housing market continue to improve, homeowners in rural areas continue to face foreclosure, as unemployment continues to fluctuate.
For further information, check out these sources:
Reuters