Weekend America >> Saturday, March 24, 2007 >> What's Behind the Foreclosure Statistics


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What's Behind the Foreclosure Statistics March 24, 2007

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ACORN

Seventy-five-year-old Lawrence Wiggins Sr. is fighting to keep his house. He's one of many "risky" debtors that were able to take out loans from sub-prime lenders in the real estate boom of the last decade. He now finds himself owing more on his Cleveland house than the house is actually worth. Independent Producer Mhari Saito spent the week with Wiggins and his family while they tried to keep him from losing his house to foreclosure.

Then...

Guest Host Alex Cohen talks with Jordan Ash, director of the Acorn Financial Justice Center, a group that's currently helping homeowners find a way to keep their homes. Ash talks about the rise of foreclosures in the country and the personal toll it can take on people. Also, he gives advice on what people can do to keep their home.

Special Audio Web Extra

Mhari Saito talks with Jeff Tortorea of Lost Pond Construction, a company that manages and secures bank owned (REO) properties. Jeff talks about things he has found during the course of his work. (1:34).