The Grand Slam on the San Diego Real Estate Market

To help out on States that were slammed hardest by the real estate market, President Obama has approved more plans to help homeowners.

The program is going to 5 States, California being the largest, which will get $700 million to assist 46,000 borrowers.  The choice of States was established by which ones had highest unemployment and/or had seen a drop of 20% in home values.

What effect will this have if you have San Diego real estate and are underwater?

California will receive $699.6 million to implement a plan that includes earned principal forgiveness, funds to address delinquent loan arrearages, mortgage payment subsidies to unemployed families, and funds to help families find housing after executing a short sale or deed-in-lieu of foreclosure.

Will that turn our San Diego real estate market around so that sellers can start seeing appreciation from the bottom of the market……?   So that homeowners can live a more stable, balanced life without fear and stress…..?

Stay tuned to find out.

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