Foreclosure Hamlet

Supporting, Informing & Connecting People in Foreclosure

The foreclosure crisis isn't over; Just ask L.A. ...

June 2, 2011

As housing prices plummet in dreaded "double dip," homeowners struggle to stay afloat, and the government isn't helping much

The news landed with a thud on front doorsteps all over America: Home values are falling again, in a dreaded "double dip." If you want to know why, look no further than the house down the street -- the one in foreclosure.

Foreclosed homes, selling at bargain-basement prices, are dragging the market down, and homeowners are still desperately trying to stay out of foreclosure, as CBS News correspondent Bill Whitaker reports from Los Angeles.

It's a sign of the times. People lined up, some overnight, thousands filling L.A.'s massive Shrine Auditorium, desperate to hold onto their houses.

 

Read the Rest Here...

http://www.cbsnews.com/stories/2011/06/02/eveningnews/main20068465....

 

 

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Tags: Crisis, FRAUD, Foreclosure, Fraud, Housing, Illegal, MERS, Recession

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