Wave of home foreclosures in the Bay Area
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Tens of thousands of Bay Area homeowners find themselves facing foreclosure and, despite all the talk from politicians and regulators, they find a system still staked against them. Read More
Bank of America Statement
Assemblyman Phil Ting commissioned an audit of San Francisco's property records when he was the city and county assessor-recorder and found that 84 percent of foreclosures reviewed had apparent violations of the law. Here, he discusses the importance of clean and clear mortgage and loan documentation.
Dustin Hobbs is the communications director at the California Mortgage Bankers Association. Here, he discusses the financial industry's response to the newly passed Homeowners Bill of Rights and addresses claims that banks stretch out the loan modification process to make money.
The Investigative Unit exposes a business strategy banks are now using to bring money in while forcing many families out.