Southern California Mortgage Crisis » Crisis News

LISTEN HERE: SoCal NPR – Option ARM Resets

admin — Fri, 28 Aug 2009 18:35:16 +0000

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.

The Next Wave: Option Adjustable Rate Mortgages Poised to Reset
Anthea Raymond
Steve Ward
August 29th, 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 option “reset” causing the payments to increase significantly. Many borrowers can neither afford the higher payments nor refinance their upside-down mortgages.

LISTEN HERE: SoCal NPR – Commercial Sector Impact

admin — Sun, 23 Aug 2009 18:40:00 +0000

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 3 minutes).

Click the arrow below to play.

Commercial Property Foreclosures Impact the Region
Anthea Raymond
Ross De Vol
Duncan Lively
August 21th, 2009

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.

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

admin — Fri, 14 Aug 2009 18:34:25 +0000

Broadcast 8/14/09 – KVCR 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.

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LISTEN HERE: SoCal NPR – A PROPOSED SOLUTION

admin — Fri, 14 Aug 2009 18:22:54 +0000

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 4 minutes).

Click the arrow below to play.

THE DE VOL HOUSING SOLUTION FROM THE MILKEN INSTITUTE
Anthea Raymond
Steve Ward
August 14th, 2009

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.

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

admin — Tue, 11 Aug 2009 16:43:35 +0000

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.

Video Tips:

If you would like to view it even larger, click the rectangle second from the bottom right and it’ll expand to fill your screen.
If the video is chopping or stuttering, press pause and wait for 5 or 10 minutes, then press play. YouTube will continue to load the video to your computer so you can view it smoothly even with a slower connection.

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

admin — Tue, 11 Aug 2009 16:39:55 +0000

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. They candidly discussed which options were viable and which were not widely offered. Additionally, Chase discussed their 28 regional home ownership centers in which a distressed owner can obtain and appointment and meet with a loan modification advisor for Chase, who becomes that person’s primary point of contact during the modification and/or foreclosure process — a real person with a desk, a direct extension and email address.

Video Tips:

If you would like to view it even larger, click the rectangle second from the bottom right and it’ll expand to fill your screen.
If the video is chopping or stuttering, press pause and wait for 5 or 10 minutes, then press play. YouTube will continue to load the video to your computer so you can view it smoothly even with a slower connection.

LISTEN HERE: Socal NPR – COMMERCIAL MORTGAGE CRISIS

admin — Sun, 09 Aug 2009 04:26:25 +0000

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.

THE COMMERCIAL PROPERTY MORTGAGE CRISIS
Anthea Raymond
Steve Ward
August 7th, 2009

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.

HAS KVCR HELPED YOU?

admin — Fri, 07 Aug 2009 17:58:29 +0000

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.

Email us your story by clicking HERE

Listen Here: SoCal NPR – HOUSING & THE CA BUDGET CRISIS

admin — Mon, 03 Aug 2009 23:38:46 +0000

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 NEW STATE BUDGET might affect homeownership and housing, including how Inland Empire cities might be affected by the state’s plan to claim almost 2 billion dollars in local development funds.

Listen Here: SoCal NPR – THE CRISIS’S NEW HOMELESS

admin — Mon, 27 Jul 2009 20:36:17 +0000

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 2 1/2 minutes).

Click the arrow below to play.

THE CRISIS’S NEW HOMELESS
The homeless are very different than you and I. At least that’s what a lot of us thought until the Mortgage Crisis shook up stable housing situations for thousands in the Inland Empire and Orange County. Anthea Raymond visited the Circle of Hope shelter in Corona this week. She met a woman there named Kathleen Krauss and filed this sound portrait.

Kathleen Krauss
Anthea Raymond
July 23, 2009
Kathleen Krauss has been living at the Circle of Hope Family shelter in Corona since April. The sound portrait you heard was prepared by Anthea Raymond as part of KVCR’s “Facing the Mortgage Crisis” series.