Southern California Mortgage Crisis

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

7. July 2009

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.

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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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