Repossessions

IF repossessing a used Chevrolet can be tricky, consider retrieving the Aztec Express, a 700-foot cargo ship under guard in Haiti as civil unrest spread through the country. Only a few repo men possess the guile and resourcefulness for such a job. One of them is F. Max Hardberger, of Lacombe, La. Since 1991, the 58-year-old attorney and ship captain has surreptitiously sailed away about a dozen freighters from ports around the world.

Signs are emerging that a much-feared escalation of California home foreclosures may not happen, as banks respond to government pressure and scale back their repossessions of troubled properties. Statewide, the number of homes taken back by lenders dropped sharply in the three months ended Sept. 30, falling 37% over the same period a year earlier, when foreclosures were at an all-time high. If the trend continues, it will give momentum to the fledgling recovery in the housing market.

As part of the city's earthquake recovery effort, the Los Angeles City Council approved a loan program Wednesday for first-time home buyers in the northeast San Fernando Valley. The program, which is limited to Councilman Richard Alarcon's district, also provides loans to help residents pay for valves that shut off the gas flow during an earthquake.

A $1-million yacht originally reported as stolen turned up Monday in Mexico, where it was apparently taken in an ownership dispute, police said. Robert Cirac, 44, of Laguna Hills told police that his 65-foot yacht was stolen from Harbor Island on Friday. But Monday, police said the yacht was apparently owned by three different parties, including Cirac.

Following the logic of simple demographics, a pair of real estate brokers this weekend will launch a novel approach to selling houses based on the presumption that the majority of potential home buyers in Los Angeles are Latino. Brothers Carlos and Alex Izbicki will offer houses for sale from a booth at the Panorama City Indoor Swap Meet.