Southern California Mortgage Crisis

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Listen here: Socal NPR – Mortgage Modifications

11. June 2009

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 5 minutes). Click the arrow below to play. MORTGAGE MODIFICATION 91.9 KVCR – June 5, 2009 By Anthea Raymond The Inland Empire has been hit HARD by the mortgage crisis. Interest rates have reset on many loans. Unemployment in the [...]

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The median price for an existing, single-family detached house in California declined 30 percent to $267,570 -CA Assoc. of Realtors [#]
California ranked highest nationally in the overall number of foreclosure filings in May, totaling 92,249, according to RealtyTrac. [#]
Survey by U of Michigan reports 77% of homeowners in West experienced value declines, the nation's highest rate, compared to 51% in South. [#]
As of today, California is imposing a 90-day foreclosure moratorium. It's the California Foreclosure Prevention Act. [#]
The number of foreclosures filed in May was so high as to make May the third highest month on record. [#]

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