Owners of foreclosed properties in San Francisco, such as banks, are coming under fire for allowing some of those homes to fall into disrepair. Supervisor Malia Cohen, whose District 10 includes the Bayview, has introduced legislation that would subject foreclosed properties to The City’s nuisance law, which allows for court abatement injunctions and fines. It also would triple the nuisance penalties for owners of 10 or more foreclosed properties. Read More

Fannie Mae and Freddie Mac were prime players in the mortgage meltdown that led to the worst recession since the Great Depression. Those government-backed corporations own more than 60 percent of the mortgages in California, which is second only to Nevada in devastation from the foreclosure crisis. In the past five years more than 768,000 homes have been foreclosed upon in this state, including thousands in San Francisco from Bayview to Pacific Heights. Read More

WHAT: Kendra and Todd Parker of Little Rock, Ark., are being foreclosed upon, but they can prove they made every mortgage payment.HOW: Their local bank didn’t tell them their loan had been sold. The Parkers sent their first payment check to the bank, which lost it.WHY: Once that first payment was missing for 90 days, the Parkers’ new mortgage company declared the account delinquent and automatically stopped accepting payments. Read More