CALIFORNIA | LOCAL
December 3, 2011 |
Several times a week, a group of investors gathers in Norwalk to bid on homes that have been foreclosed. The midmorning auction outside the Los Angeles County Superior Court building is a high-stakes, but usually low-key affair. On Friday, bidders sat in the sun in lawn chairs, and the auctioneer looked relaxed in a pair of baggy sweat pants. But just as the auction was getting started, a commotion erupted from across the lawn. It was a group of protesters, marching with posters and howling an angry chant.
November 20, 2010 |
Two All-Star Games and two World Series were decided in the time it took former pro baseball player Lenny Dykstra to lose his trophy home in Thousand Oaks to foreclosure. But it was game over for the onetime star center fielder Wednesday when a bid of $760,712 and change took the Sherwood Country Club estate on the steps of the Ventura County Courthouse. In addition to the amount of the winning bid, buyer Index Investors is on the hook for about $12 million owed to first lender JPMorgan Chase & Co. plus missed payments and taxes.
March 17, 2008 |
For the past year, Dennis and Carol Anderson had been eyeing a property in Idyllwild, thinking it would make a great retirement home. On Sunday, the Cypress couple was ready to make an offer. The three-bedroom, 3,000-square-foot mountain house, which was on the market for about $700,000 a year ago, was being sold at a foreclosure auction. The starting bid: $235,000. "I'm a nervous wreck," said Dennis Anderson, 62, as he waited for the property to be called. As the housing market continues to slump and mortgage defaults mount, public auctions of foreclosed properties are luring buyers with the promise of bargains.
November 19, 1987
Commercial Center Bank of Santa Ana purchased Fisherman's Village on Shelter Island in San Diego for $4.4 million at a foreclosure auction Tuesday after no other bids were submitted. The bank, which was the primary lender to former owner Mark Battaglia, forced the auction after initiating foreclosure proceedings. The complex includes retail, office and restaurant space as well as a commercial fishing marina. A bank spokesman said it was premature to discuss the bank's plans for the property.
November 14, 2012 |
The number of foreclosures canceled by banks surged 62% across California last month, the same month major mortgage servicers were required to comply with new rules outlined by this year's National Mortgage Settlement. Banks in the Golden State canceled 15,539 scheduled auctions last month, according to a report by website ForeclosureRadar.com. That was a 36.7% drop from the same month last year. Sean O'Toole, founder of ForeclosureRadar, wrote in the October report that the increase was most likely due to the effective banning of dual tracking in the state.
June 8, 2009 |
Late last year, on a weekend afternoon, I spotted the husky teenager next door packing boxes in the garage. I've known the kid, James, since he was 4. He was best friends with my son, Jesse. They were inseparable -- "Jesse James" is what I used to call them. When the two of them weren't having a sleepover at our house, they'd be camped out next door, where our little guy developed a taste for home-style Filipino cooking. In fact, our entire families seemed woven together. For years, James' two older sisters had tag-teamed as our baby-sitters.