Southern California Mortgage Crisis

LISTEN HERE: SoCal NPR – Option ARM Resets

28. August 2009

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 – HOUSING & THE CA BUDGET CRISIS

3. August 2009

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KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 9 minutes). Click the arrow below to play. HOUSING & THE CALIFORNIA BUDGET CRISIS Steve Ward Anthea Raymond July 31, 2009 Fontana City Mayor Mark Nuaimi and Dave Willmon of the League of California Cities discuss California’s fiscal problems and how the [...]

A New Correlation Between Unemployment and Foreclosures?

30. June 2009

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[From Political Calculations] The group Calculated Risk posted a thought-provoking chart showing how single family mortgage delinquency rates have largely tracked changes in the U.S. unemployment rate since 2005, which we’ve excerpted. From that chart, it would appear that foreclosure activity in the U.S. is pretty closely tracking changes in the unemployment rate. Whenever we see [...]

Crisis Overview

19. June 2009

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The Southern California area has been hit hard by the mortgage crisis. In conjunction with the Corporation for Public Broadcasting, KVCR is creating a set of broadcast programs that will discuss the crisis and, if our goal is acheived, help many members of our community to navigate the crisis and avoid losing their home. We are [...]

Listen here: Socal NPR – Mortgage Modifications

11. June 2009

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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 [...]