The Effects of the Foreclosure Crisis on Neighborhoods in California's Central Valley: Challenges and Solutions

Author:	Carol Ornelas
Contact:	Janis Bowdler
Date:	Oct 24, 2008
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Topic:	Community and Family Wealth-Building
Policy:	Homeownership
Region:	Northeast, Southeast, Midwest, Texas, Far West, California - Los Angeles, Puerto Rico, California - Sacramento, DC

Summary

Carol Ornelas, CEO of Visionary Home Builders of California, an NCLR Affiliate based in Stockton, California and NCLR Homeownership Network member, testified before the U.S. House of Representatives Committee on Financial Services at a field hearing held in Stockton. The hearing, entitled, “The Effects of the Foreclosure Crisis on Neighborhoods in California’s Central Valley: Challenges and Solutions,” focused on federal, state, and local efforts to address rising foreclosure rates in California’s Central Valley. Her testimony highlighted the work of Visionary Home Builders of California in providing decent, safe, and affordable housing to low-income residents of Stockton, a city described by 60 Minutes as the epicenter or ground zero for the foreclosure disaster.