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High County Foreclosure Rates Traced to 21 Brokers

Audio

Aired 4/19/09

Maureen Cavanaugh : Buying a home has long been held as the fulfillment of the American dream. And the people who helped working families get into properties of their own were honored as the men and women who made those dreams come true.

But now the recession is prompting a second look at the recent boom in real estate. And what we're seeing is not a pretty picture.

Zach Fox, business reporter with the North County Times, studied what seemed to be a glut of foreclosed properties that were sold by a handful of real estate brokers in the North County. He uncovered an apparently systematic effort by some brokers and salespeople aimed at getting people into homes and even investment properties that they really couldn't afford.

Guests

  • Zach Fox , business and real estate reporter for the North County Times .
  • Mark Goldman , mortgage broker and lecturer at SDSU's School of Real Estate.
     

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