California Homeowners Left To Fight Foreclosure On Their Own

Three years into the mortgage meltdown, California homeowners still have little relief from the foreclosure crisis. Last week, state legislative committees failed to clear three separate bills designed to help struggling homeowners and hold banks more accountable during foreclosure proceedings.

This news comes as the number of foreclosures continues to rise, and national efforts to stem the crisis have only provided relief to a fraction of homeowners needing help. Coupled with the lack of policies to address the foreclosures epidemic, California homeowners are being left to fend for themselves.

Increasingly, homeowners are taking matters into their own hands — stepping up pressure on banks, going after mortgage scammers and educating themselves about how to avoid becoming victims of foreclosure or fraud.

Three-Year Mortgage Fight

Peggy Mears has fought for three years to keep her three-bedroom house in Fontana, California

After the economy tanked, Mears and her husband's income took a hit. Mears, a licensed childcare worker, had fewer clients and her husband, who works in the entertainment industry, saw his contract work dry up. Mears, hoping to lower her monthly mortgage payments, contacted her lender OneWest Bank (formerly IndyMac Bank) to modify the terms of her home loan.

Three years and three loan modifications later, Mears says she is still at risk of losing her home.

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