Mortgage crisis affects Beaumont neighborhood

Get the Flash Player to see this player.

The following information has been provided by the City of Riverside:

Riverside residents can now see what federal stimulus dollars are coming to their neighborhoods at a new city website www.riversideca.gov/Recovery.

“I am delighted that this web site will serve as a powerful informational tool to understand what federal recovery funding Riverside has applied for and received, and what projects are scheduled to be completed with those funds,” said Mayor Ronald Loveridge. “Accountability and transparency throughout the American Recovery and Reinvestment Act funding process is top priority for the City.”

The Web site offers a snapshot of funding allocated and/or received to date, news articles, and council updates.

Future updates of the Web site will include:
1. How funds will be used;
2. Jobs created or sustained by the funds;
3. Nonfederal funding sources used to complete projects; and,
4 Project and program activities.

California’s 90-day moratorium on new home foreclosures is an attempt to get lenders to modify loans.

A similar federal moratorium expired in March.

Filed under Video Library, News A2, Headline