California Land Title Association CLTA Governor Schwarzenegger
California Land Title Association Endorses Housing Bond
Affordable Housing Initiative Offers Opportunity for California Families
SACRAMENTO, Calif., Aug. 9 -- The California Land Title
Association (CLTA) announced today its endorsement of Proposition 1C, the
Housing and Emergency Shelter initiative, on the November 2006 ballot.
"The CLTA enthusiastically supports the bipartisan Housing and
Emergency Shelter Initiative -- Prop 1C -- and looks forward to working
with Governor Schwarzenegger and the Democratic Leadership to help pass
this measure in November," said CLTA executive vice president Lawrence
Green.
Prop 1C would provide $2.85 billion for much needed affordable housing
in California, including $725 million to help an estimated 23,600 families
become or remain homeowners. Additionally, the Housing and Emergency
Shelter Initiative is estimated to create 87,000 full time jobs and $3.5
billion in wages for California families.
"For nearly 100 years, the CLTA and its member title companies have
helped bring the dream of homeownership to California families. Our support
for Proposition 1C is a continuation of our commitment to the people of
California and the promise of strengthening its economy for the future,"
said Green.
Title insurance is used by homebuyers and lenders for protection
against back taxes, undisclosed liens, legal judgments, forgeries, fraud
and a host of other potential legal/financial problems that can arise when
purchasing or refinancing property. Most of the title insurance premium
goes towards identifying and eliminating these potential problems before
the close of escrow. Consumers pay only once for title insurance -- there
are no monthly premiums -- for coverage that lasts as long as they own the
property.
The California Land Title Association (CLTA) is a non-profit
corporation founded in 1907, representing member title companies throughout
the state of California. The Association's membership is comprised of title
insurance companies and underwritten title companies conducting business in
the state. The goals of the CLTA include: expediting the transfer and
insurance of title to real property throughout California, increasing the
public's awareness of the value and purpose of title insurance, and
finally, protecting private property rights.
Contact: Lawrence Green
916-444-2647
