mortgage crisis

Crisis In The Housing Market
2:20 am
Fri July 13, 2012

County Considers Eminent Domain As Foreclosure Fix

Half of San Bernardino County's 300,000 mortgages are underwater. In an attempt to ease the mortgage crisis, the Southern California county is considering taking control of some of those properties by eminent domain.
Robyn Beck AFP/Getty Images

Originally published on Fri July 13, 2012 10:04 am

County and city officials in San Bernardino, Calif., are considering a controversial plan: using the power of eminent domain to take over "underwater" mortgages, where the value of the home is worth less than the original loan. Taking on those properties, officials say, would allow the homeowners to refinance those troubled loans.

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News
10:51 am
Thu July 12, 2012

Homeowner Bill Of Rights For 'Flawed System'

Guest Host Maria Hinojosa talks with Kamala Harris, California's Attorney General about the state's newly passed "Homeowner Bill of Rights." The law, which was signed yesterday by Governor Jerry Brown, makes it harder for lenders to seize a property and allows homeowners to sue to stop a foreclosure process.