[quote=flu]No worries..Just think of CA government as a mini version of the Fed government 2 years ago…Things will be fine 2 years from now, when utterly the CA government majorly f’s up and has it’s own watershed moment.

No good ever comes with a one party dominated government.[/quote]

and

[quote=CA Renter]Good thing the state and federal governments are swimming in cash; otherwise, they wouldn’t be able to afford these nice “programs” for the poor, poor “homeowners.” [/quote]

Just to clarify, this is NOT a state funded program. It is a federal program that is administered at the state level.

Other than that, I don’t really have any opinion on the program, except that I don’t think it will have any significant effect on the market. As long as the lenders don’t suck up some of the losses, it won’t address the long term problems in the market.