It’s not exactly surprising that much of California, including L.A., has been ravaged by foreclosures. What is surprising is that many of the homeowners who are now facing foreclosure were originally targeted for subprime loans because of their race. What’s more, many trouble homeowners are now unable to secure mortgage modifications despite their best and repeated efforts.
Last week I wrapped up another series, this one about the problems that L.A.’s troubled homeowners face when trying to save their homes.
The first story focused on foreclosure prevention in South L.A.
The second was an infographic about the areas and banks with the most foreclosures in L.A. County.
The third was a look at one homeowner’s 5-year struggle for a mortgage modification, which he took all the way to the governor’s office.
The last story examined the six biggest problems with the mortgage modification process.
Along the way I made a javascript glossary to help readers understand the complex banking terms I discussed.
I also made a video to go along with the package: