Southern California Mortgage Crisis

Listen here: SoCal NPR – First Time Homebuyers

10. July 2009

We heard earlier this week that housing values are still diving all over Southern California. That's as foreclosures stay at near record levels, with more expected later this year. But, as Anthea Raymond reports, that may be GOOD NEWS for people shopping for a home for the first time. Open this post to listen to KVCR-FM's audio report online.

Email Your Questions and Comments

8. July 2009

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KVCR would like to know what your foreclosure concerns are, what you think of the show It's Your Call and our NPR radio segments, and what you think of this site. Expand this post to email us with questions we can ask our guests, or comments on our broadcasts or this site.

“It’s Your Call” KVCR TV – Avoiding Foreclosure Fraud

7. July 2009

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It's Your Call, KVCR's call-in talk show broadcast 7/10/09 - Host Roger Bowman discusses the pervasive offers to troubled homeowners that promise to save your home from foreclosure, or alternatively, to save you from having a negative credit impact by offering 'solutions' that avoid a foreclosure on your credit report. But these are almost always fraudulent. Join Pastor Herera of the Dept of Consumer Affairs, Larry Roberts, Lead Deputy DA for the Real Estate Fraud Unit of SB County, and Jennifer Brennan, atty with the FTC. WATCH HERE.

Orange County Foreclosures Rise

30. June 2009

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ForeclosureRadar.com reports in Orange County in April: Notices of default totaled 2,002, down 21% from a year ago, and 23% from March. Banks foreclosed on 573 houses and condos, down 49% from a year ago but up 52% from March. Banks typically file a notice of default (NOD) after a borrower misses three or more monthly payments. NODs [...]

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 [...]

Foreclosure Timeline

30. June 2009

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When a real estate transaction involves a property in foreclosure, knowing the foreclosure timeline helps you as the real estate agent to assess whether you have enough time to close escrow before the foreclosure sale. Starting September 8, 2008, California has a special foreclosure timeline for loans originated between 2003 and 2007, inclusive, which are secured [...]

Ohio sues three foreclosure rescue firms

29. June 2009

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Ohio Attorney General Richard Cordray is suing three companies that bill themselves as foreclosure rescue firms, claiming they took money from struggling homeowners in exchange for pledged foreclosure assistance but failed to deliver. Cordray’s office said Thursday that it filed lawsuits against 21st Century Legal Services Inc., Foreclosure Home Assistance LLC and Michael Brotherton, who does [...]

Telltale Foreclosure Rescue Scam Indicators

29. June 2009

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WHAT IS A FORECLOSURE RESCUE SCAM? A Foreclosure Rescue Scam is when a thief pretends to ‘Help’ people in foreclosure, but is really trying to steal their money. There are many different types of scams and there are more scam artists than legitimate counselors. Once you are in foreclosure, your name, address, and the fact that [...]

Criteria to Qualify for 90-Day Foreclosure Delay

26. June 2009

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The California Foreclosure Prevention Act, was introduced by Sen. Ellen Corbett, D-San Leandro, and attached to the budget package in February. The 90 foreclosure moratorium took effect June 15th and covers owner-occupied homes where the first loan was recorded between Jan. 1, 2003, and Jan. 1, 2008. California’s non-judicial foreclosure process requires a mortgage loan servicer [...]

“It’s Your Call” KVCR TV – Renters Rights

25. June 2009

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Broadcast 6/26/09 - It's Your Call, KVCR's call-in talk show, had guests from organizations that fight for the rights of tenants who find themselves on notice that their rental unit is being foreclosed upon. WATCH HERE