Southern California Mortgage Crisis

“It’s Your Call” KVCR TV – Keep or No Keep

28. August 2009

Broadcast 8/29/09 - Host Roger Bowman of KVCR's call-in talk show asks guests Ester Cadavid of the Los Angeles Neighborhood Housing Services and Ben Garcia of the Inland Fair Housing and Mediation Board about home foreclosure prevention and a range of other topics, including tenant mediation and discrimination avoidance. Also discussed is the reality that some people will not be candidates for loan modifications and need to begin planning to transition from their current home with dignity.

“It’s Your Call” KVCR TV – Post-Foreclosure

28. August 2009

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Broadcast 8/21/09 - KVCR host Roger Bowman asked questions of Lisa Jarman, program manager for the homeownership department of the Fair Housing Council of Riverside County, and Jesse limon, first-time home buyer program manager at the Fair Housing Council of Riverside County. Together they talked about foreclosure prevention and soft landings, i.e. how to make the best of losing one's home, and about how to purchase another home in the future. Even with a foreclosure on your record, you qualify as a first-time home buyer for Federal program assistance after you've rented for a mere 3 years.

LISTEN HERE: SoCal NPR – Option ARM Resets

28. August 2009

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KVCR reporter Anthea Raymond speaks with local resident Al Rosales, a homeowner who is worried about his forthcoming option-ARM reset date. Option ARMs are those loans offered in abundance during the housing bubble that allowed borrowers to select one of four payment options, the equivalent of a 30 year fixed rate, the equivalent of a 15 year fixed rate, a payment that covers only the interest, or a minimum payment that is less than the interest. The latter two payments are offered for a limited time, and when the time expires the options "reset" causing the payments to increase significantly. Many borrowers can neither afford the higher payments nor refinance their upside-down mortgages. EXPAND TO LISTEN

LISTEN HERE: SoCal NPR – Commercial Sector Impact

23. August 2009

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Ross de Vol, Director of Regional Economics for the Milken Institute, a think tank in Santa Monica, talked about what a rise in commercial foreclosures might mean for our region. He says this sector is the next shoe to drop. EXPAND TO LISTEN

“It’s Your Call” KVCR TV – Crisis Update

14. August 2009

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VCR brought back guests John Husing, a leading regional economist, and Bob Hooker, the director of the Inland Empire Economic Recovery Corporation, to discuss the status of the crisis with host Roger Bowman. Is the situation improving, as some say, or worsening, as RealtyTrac's latest numbers would indicate. More importantly, what newly-developing trends appear to be endangering the long-term recovery prospects in the SoCal market. Are the Federal government assistance programs working? Are banks ignoring the region? The guests talk candidly about the realities of the Southern California mortgage crisis including the banks and Federal responses.

LISTEN HERE: SoCal NPR – A PROPOSED SOLUTION

14. August 2009

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The Director of Regional Economics for the Milken Institute, Ross De Vol, thinks his think tank has a solution to the worsening housing crisis. He tells Anthea Raymond about the Institute's plan to stop "strategic" foreclosures by people who owe more than their homes are worth, especially in the Inland Empire where homes have lost so much of their value. EXPAND TO LISTEN

“It’s Your Call” KVCR TV – Predatory Lending

11. August 2009

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Broadcast 7/31/09 - KVCR host Roger Bowman had guests Alan Sims of the Center for Litigation and Consumer Real Estate Education (CLCREE), a nonprofit consumer advocacy organization that provides free legal services to victims of predatory lending and consumer real estate issues, and law student James Cuzzolini, a volunteer with CLCREE. Both answered questions about loan modification obstacles many viewers are encountering as well as the questionable techniques many loan brokers and appraisers used when writing loans during the bubble, and what people can do if theirs was intentionally inaccurate. WATCH HERE

“It’s Your Call” KVCR TV – Bank Response to Mortgage Crisis

11. August 2009

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WATCH HERE: Broadcast 8/7/09 - KVCR had guests Rod Tawasha, associate vice president and home preservation manager for Chase bank, and Larry Sharp, president & CEO of Arrowhead Credit Union, in the studio to answer host Roger Bowman's questions about their banks' responses to the mortgage crisis. The discussion included the foreclosure process, short sales, deeds in lieu, principle reduction, forbearances, and other means of helping home owners retain their homes or exit gracefully.

LISTEN HERE: Socal NPR – COMMERCIAL MORTGAGE CRISIS

8. August 2009

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In this segment we look at how foreclosure might be playing out in the commercial sector. How are owners of office, retail, and industrial space in the Inland Empire faring as businesses struggle to stay in business? To find out, Anthea Raymond talked to Chris Bagley, a reporter for the North County Times. He says problems in the commercial sector are just starting to hit the radar. EXPAND POST TO LISTEN

HAS KVCR HELPED YOU?

7. August 2009

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We at KVCR want to know if we've helped you during this mortgage crisis by making members of non-profits and community programs available to answer your questions. If KVCR has helped you navigate this crisis, we'd like to hear from you and possibly record your testimonial. Tell us how we've helped.