|
Feb 11
2010
|
Foreclosures Part 1Posted by Bruce Robinson in Sonoma County , rights , religion , poverty , policy , nonprofit orgs , jobs , housing , homeless , families , employment , economy , community engagement , children , California , business , budget |
|

The wave of home foreclosures that swept California in 2008 and 2009 has not gone away. In some ways, it may be getting worse.

Last year, says Brian O’Callahan, who directs the three-person Foreclosure Prevention program for Catholic Charities in Santa Rosa, his agency was contacted by roughly 3500 people seeking help with home loans gone bad. Out of that number, about 600 met the criteria for his HUD-funded program (first mortgages only, primary residence of the borrower). And only a quarter of those 600 were able to get significant assistance. For many of the rest, the best they could offer was sympathy and someone to listen.



Last year, the federal estate tax earned the government about $25 billion dollars. This year, unless Congress takes action, the amount will be zero.
The missing Estate Tax in 2010 means more than just less revenue for the federal government. Santa Rosa tax attorney MaryClare Lawrence explains it has a ripple effect that touches virtually anyone who has some kind of an estate plan.
This table shows how the revenue collected from Estate Taxes was apportioned before the minimum exemption was increased. The first blue column, for estates of less than $2.5 million, has gone away for the past several years, but unless Congress enacts changes, Lawrence says it is due to return with a in 2011.
More expensive gasoline and other rising costs have left some disabled people in rural Sonoma County without transportation to their jobs and other programs.


