Published:
Company Issues Urgent Letter to Henry Paulson Regarding California Housing Crisis
ONTARIO, Calif., Oct. 10 /PRNewswire/ -- WCPS, parent company of
Renttoday.us issued an urgent letter to US Treasurer Henry Paulson asking to
have theSouthern California housing crisis addressed. The letter found on the
company's website cites that the recent crash on Wall Street is keeping
displaced homeowners in the shadow of financial crisis.
The company issued a 5 point plan to help free up housing issues and to
create affordable housing solutions to homeowners who are in foreclosure or
have recently lost their home to foreclosure. The plan calls on both the
national and local government to take action as well as banks, investors, and
local property management companies.
"The plan is straight forward," explains Damien Melle, Chief Operations
Officer of WCPS. "When distressed homeowners are forced to downsize their
lifestyle by moving to a smaller home, the need for new things decreases. Why
would you need to purchase a new TV or furniture if you had to sell half your
assets to fit into your new home? Downsizing is also embarrassing and makes
those feel as if they failed. This in turn results in less money being spent
on consumer goods. If Wall Street thinks we have a credit freeze, wait until
they see what happens when consumer wallets freeze up."
The plan calls for additional tax credits to investors who purchase 3
bedroom or larger single family homes for the purpose of renting, banks and
funds who either sell off large bulks of those homes to investors or convert
them into rental housing, and homeowners who have lost their home and who are
forced to rent. Additionally it calls on property management companies to
change the way they qualify tenants who have defaults, foreclosures, and
bankruptcy on their credit.
To view the letter you can visit the company's website at
http://www.renttoday.us and click on the link labeled "Letter of Action".
WCPS is aCalifornia corporation which operates under the name
RentToday.us as a licensed brokerage firm who offers full service property
management. The company founded in 2003 under the name West Coast Property
Specialists, Inc. to accommodate real estate investors with a variety of
services ranging from real estate brokerage to construction services fromSan
Diego toLos Angeles.
SOURCE Renttoday.us
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: ,FIN,RLT,ECO,CA-Renttodayus-letter
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