City Council/Agency Reports
03-27-2012 CC RPT 02
4/11/2012 11:13:07 AM
3/22/2012 12:09:21 PM
General - Type
City Council Reports
03-27-2012 CC AGENDA
\City Council Agendas\2010-2019\2012
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Foreclosure Workshop 'Page 2 <br />• Job loss and reduced income as a result of the economic crisis. <br />During the workshop staff and subject matter experts will provide a comprehensive presentation of <br />foreclosure conditions and information on why the foreclosure rate in the Riverside -San Bernardino - <br />Ontario MSA is still high. The presentation will include the following foreclosure trends, statistics <br />and information on programs available to homeowners at -risk of losing their home: <br />• Number of Real Estate Owned (REO) Properties; <br />• Number of Defaults or Notices; <br />• Condition of properties; <br />• Time on the market; <br />• Who is buying foreclosed properties; <br />• State and national trends and averages; <br />• Modification statistics in the City of Riverside compared to the region, state and nation; <br />• Local foreclosure prevention workshops and efforts; <br />• Current efforts, information, services and programs available to people facing <br />foreclosure; and <br />• Federal proposed homeownership programs; Federal proposed Project Rebuild <br />Monitoring of the foreclosure market and supporting programs designed to aid distressed <br />homeowners must continue in order to improve the local economy. Collaboration among public and <br />private organizations to educate homeowners on foreclosure programs and resources available to <br />help individuals retain homeownership will go towards achieving Route 10, Collaborating to Build <br />Community, of the City's Seizing Our Destiny initiative. <br />FISCAL IMPACT <br />There is no fiscal iml <br />Prepared by: <br />Certified as to <br />availability of funds: <br />Approved by: <br />Approved as to form <br />)act associated with this item. <br />Emilio Ramirez, Development Director <br />Brent A. Mason, Finance Director /Treasurer <br />Deanna Lorson, Assistant City Manager <br />for Scott Barber, City Manager <br />Gregory P. Priamos, City Attorney <br />M <br />
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