(credit: AP/FILE)

Should Banks Pay $20K Per Foreclosure? Assemblyman Says ‘Yes’

Assemblyman Bob Blumenfeld says the money collected from banks would go to school districts, police and fire departments, and small business loans.


(credit: AP)

OC Mortgage Firm Charged With Minnesota Refinancing Scam

The attorney general of Minnesota says a Costa Mesa mortgage company charged homeowners thousands of dollars in fees and never delivered on promised refinancing services.


(credit: Joe Raedle/Getty Images)

Agents Push To Ease Short Sales In LA Times Ad

Short sale transactions allow distressed borrowers to avoid foreclosure by selling their homes for less than what is owed on them.


(credit: Joe Raedle/Getty Images)

Bailout Banks Shun Efforts To Stem Foreclosures

The plan is aimed at helping thousands of borrowers who owe more than their properties are worth, but without cooperation from the banks, the program will likely have limited benefits.


(Credit: AP Photo/Jim Suhr)

Mortgage Default Notices Slow Sharply In January

Fewer U.S. homes entered the foreclosure process in January than in any month in more than three years, the latest sign lenders are taking longer to move against homeowners who have fallen behind on mortgage payments.


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Sinking Home Values Leave Half Of Riverside Homeowners Underwater

A steep decline in home values across California and the U.S. are leaving more Americans underwater in their mortgages in 2011.

CBS Los Angeles–02/09/2011

mortgage default home sales market

Calif. Jobless Rate Likely To Spur More Foreclosures

As long as unemployment stays high in California, more people will likely be forced out of their homes by foreclosure, a state panel warned on Monday.

KNX 1070 NEWSRADIO–01/31/2011

(credit: CBS)

Thousands Flock To LA Sports Arena To Refinance Mortgages

With patience and paperwork, thousands of people lined up at the L.A. Sports Arena Sunday to try and refinance their mortgage through the Neighborhood Assistance Corporation of America (NACA).

KNX 1070 NEWSRADIO–01/30/2011

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Foreclosure Prevention Event Draws Desperate Homeowners

Thousands of homeowners waited at the Los Angeles Memorial Sports Arena Thursday in the hopes of getting free advice to save their homes from foreclosures.


(credit: AP Photo/Damian Dovarganes)

Riverside County Foreclosures Rank 2nd In California

Industry experts warn Riverside County is among the most distressed cities in the state when it comes to mortgages — and 2011 may not bring much more relief.


(credit: Joe Raedle/Getty Images)

Foreclosures Dip, But Adjustable Mortgages Set To Spike

Fewer Southland homeowners struggled to keep up with their mortgages in December, but there may be more turbulence for those with adjustable rate mortgages.



Rains Are Over, But Malibu Landslide Still Threatens Homes

Residents said the hillside along the 25000 block of Malibu Road near Corral Canyon has been moving for some time, but a big piece of earth recently collapsed.

CBS2 / KCAL9–01/11/2011

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San Clemente Homeowners Blame City For Mudslide

Six homeowners affected by last week’s hillside collapse have hired an attorney to pursue claims against the city, with a trial expected sometime later this year.

CBS2 / KCAL9–01/10/2011

(credit: Nicholas Kamm/AFP/Getty Images)

774K Homeowners Drop Out Of Obama’s Mortgage-Aid Program

More troubled homeowners are dropping out of the Obama administration’s main foreclosure-relief program, which has been widely criticized for failing to help more people keep their homes.


Wells Fargo To Modify 15,000 Adjustable-Rate Loans

California Attorney General Jerry Brown says Wells Fargo Bank N.A. has agreed to modify adjustable-rate loans made to nearly 15,000 Californians by lenders that it acquired.