Facing the Mortgage Crisis
Crisis in San Diego
While there seem to be a few positive signs for the San Diego housing market, experts agree the downturn has been unprecedented and perhaps just the beginning. The most recent good news comes from a report that shows home values grew on a monthly basis for the first time in three years. Prior to May, home prices had been in steady decline since July 2006. The bad news is it only grew by 0.4 percent, and the housing market usually has some sort of upswing in the spring or summer.
The Housing Opportunities Collaborative holds free HOME (Home Owners Mobile Education) clinics across San Diego County, providing homeowners one-on-one sessions with experts like housing counselors, mortgage counselors and real estate and bankruptcy attorneys.
There was nothing short about the “short-sale” Paul Ordonez and his wife went through to buy their first home. Fourteen months after first seeing a 1,600-square-foot townhouse in East Lake, he and his wife of three years were finally handed the keys by their agent.
After 14 years with the San Diego Sheriff’s Department, Cpl. Ingram has eviction down to a science. First, he knocks loudly on the door. Then comes the opening statement.