Tens of Thousands of Californians Lose Their Homes

ForeclosuresMass President and co-founder, Jeremy Shapiro In North Carolina a fair was held at North Carolina State University to help people address predatory lending. The "Save Our Homes Fair." held by ACORN (Association of Community Organizations for Reform Now), aims to help people avoid foreclosure. The event was free and open to the public. In, March banks took some form of action against 3,300 hundred properties in North Carolina. Tens of thousands of Californians lost their homes during the first three months of the year as foreclosures soared more than 300 percent across the Bay Area and the state. Many experts expect those numbers to climb higher this year. The national real estate downturn reached critical levels last summer as resetting subprime loans and falling home values precipitated growing numbers of default and eventually an international liquidity crisis. In Indiana more than 3,500 families in danger of foreclosure have contracted the Indiana Foreclosure Prevention Network and 800 are now attempting to renegotiate home loans. The state's foreclosure prevention effort began in January. Approximately 500 people were invited to the sessions by area banks and lender. Lenders meeting with borrowers included the U.S. Bank, Wells Fargo and JP Morgan Chase.

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