Southern California Mortgage Crisis

Listen Here: SoCal NPR – Crisis Update 2

20. July 2009

KVCR-FM created this NPR news spot pertaining to the Southern California mortgage crisis. Listen to the segment here (approximately 6 minutes). Click the arrow below to play. CRISIS UPDATE 2 This is the second interview with Anthea Raymond, regional reporter covering the Southern California Mortgage Crisis, by Erin O’Toole of KVCR. 91.9 KVCR – July 17, 2009 Erin O’Toole and [...]

Listen here: SoCal NPR – First Time Homebuyers

10. July 2009

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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.

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 [...]

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 [...]

Riverside Foreclosure Rate in May 2009

29. June 2009

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California ranked highest nationally in the overall number of foreclosure filings, totaling 92,249, according to RealtyTrac. Nevada had the highest foreclosure rate — 1 in every 64 households. California’s rate was 1 in every 144. Florida was third with 1 in 148, data showed. RealtyTrac CEO James J. Saccacio said that while defaults and foreclosure auctions [...]

Foreclosures Jump 18%

29. June 2009

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The number of U.S. properties for which a foreclosure filing was received rose 18% in May from a year earlier, according to online foreclosure concern RealtyTrac, as bank repossessions surged in several states outside the Sun Belt, which had been seeing the worst of the housing crash. Filings fell 6% from April, the first month-on-month decrease [...]

U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise

29. June 2009

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June 23 (Bloomberg) — U.S. home prices fell 6.8 percent in April from a year earlier as rising unemployment and record foreclosures kept buyers out of the market. Measured monthly, the average price fell 0.1 percent from March, the Federal Housing Finance Agency in Washington said today. The number was projected to drop 0.4 percent in [...]

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 [...]

Listen here: SoCal NPR – California Foreclosure Moratorium

25. June 2009

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Loan modifications are on the minds of many in the Southland these days. And more are succeeding. Over the first three months of this year over 20-thousand modifications a month were reported to the California Department of Corporations, up from around 15-thousand in the previous year. A new law is designed to make lenders even more willing to modify loans It's the California Foreclosure Prevention Act, which went into effect on June 15th.