The economy is slowly recovering, and the East Bay is seeing double-digit growth in home values this year. This is good news! Yet for some, full recovery cannot come fast enough.

Falling behind on one’s mortgage risks penalties and at worst foreclosure. However, too often folks would like to pay their mortgage, but have fallen on hard times. I have listed several resources for homeowners below that residents can begin to utilize immediately. I think the people of Richmond need to know that even if the Mayor’s eminent domain plan were ever to move forward, it would still take a great deal of time before any homeowners could be helped due to legal issues with the proposal. Given the proposal's other flaws, it also lacks the necessary super majority council support. I hope individuals who need help do not ignore other options available as holding out for the Mayor’s proposal is not a sound strategy.

Whether you oppose eminent domain like me or support it, it still makes sense to look at all the resources available to an individual with an underwater mortgage. Everyone’s circumstances are different. I encourage people to take advantage of State and Federal programs. You can speak to a free foreclosure counselor who can discuss your options, provide expert help, and facilitate finding the assistance you need.

Local Resources – Northern California:

California Reinvestment Coalition 

Community Housing Development Corporation of North Richmond 

Community Housing Improvement Program (CHIP) 

Consumer Credit Services 

FindAForeclosureCounselor 

Keep Your Home CA

Jeff Wright

Former President, Contra Costa Association of Realtors