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Thursday, September 29, 2016

Colored by foreclosure

Photo by Mary Allen

Dozens of people threatened or concerned about losing their homes through foreclosure  attended today’s Northeast L.A. Home Rescue Fair in Lincoln Heights.   After checking in, homeowners were directed to an auditorium where they waited in chairs that had color-coded signs – representing major lenders – taped on the back. Pink signs were for people with  Bank of America mortgages and blue signs were for J.P. Morgan Chase Manhattan customers.   The homeowners then met face-to-face with bank representatives, financial and housing counselors and attorneys. Mary Allen, an Eastsider contributor who volunteered at today’s event, counted more than 60 people at one point. More than 140 had registered.

Related post:

  • How many Eastside homeowners will need be rescued on Saturday? The Eastsider
  • Hundreds attend  home rescue fair. Patch


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  1. To better understand the color-coding, it’s best to think of the pink signs as Countrywide loans and blue signs as Washington Mutual loans.

    Part of me misses the days when banks had slogans like “Woo hoo!”…

  2. the drivebysuspect

    Just my 2 cents and not even worth that.These houses are way over priced, hoping they go up in value so you can tap the equity, now you owe even more money. The more expensive, the more taxes you pay, it doesn’t take much to get into a big hole. A buck or two increase per gallon for people that have to drive put you in the poorhouse. Utility bills going up, food bills going up. The most logical solution is to move away from high demand ,high density areas, into new communities. ButI’llbet my last dying breath the government and teh environazis will have their if anything gets built at all, will make it so ridculously expensive it defeats the purpose of “affordable housing”.
    Wonder why so many mixed use buildings in LA are not selling well?
    check the prices, due to regulations, permits and fees that were imposed on the developers and passed to the buyer, including huge HOA’s nearly impossible to pay off
    Why do prices have to be so high?

  3. GREED! In 2007 $20,000 got me a Toyota, and in 1963 $20,000 got my dad a house in A.H., now its worth close to $1M. In 1977 $15,000 got him a duplex accross the street, that he demolished, and re-built a 5 unit apt., now thats worth over $1M People weren’t as greedy back then, as they are now.

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