California Attorney General's Mortgage Fraud Strike Force
Senior council to California Attorney General Kamala Harris and Director of the Attorney General's Mortgage Fraud Strike Force
PROFILE
Michael Troncoso
Guest
FROM Michael Troncoso
Which Way, L.A.?
Three Years Later, the Housing Crisis Continues Three years after the housing market began to collapse banks own more than a million homes due to foreclosures, with another million on the verge of repossession this year and millions more in years to come. Economists call it a "glut" that's extending the housing crisis and pushing down prices.
To the Point
Three Years Later, the Housing Crisis Continues Banks and mortgage lenders now own a million foreclosed properties, with another million on the verge of repossession this year, creating a drag on the real estate market that will only get bigger. In the worst hit states, attorneys general are gearing up to investigate and prosecute lenders for fraud in both sales and foreclosures.
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