Repo homes in Los Angeles are otherwise known as repossessed homes or real estate owned. After the foreclosure auction these houses are repossessed by the lenders. California is one of the worst foreclosure affected states with Los Angeles suffering acutely. Some show statistics to prove that the Hispanic occupied localities are dotted with Repo homes in Los Angeles. This proves that this section of the populace, not fully conversant with English, were victims of the predatory lending that led to the housing crisis.

The affected feel that there with the increasing of Repossessed homes in Los Angeles there is an undeclared state of emergency. The new President has made it mandatory for lenders to take steps to reach a viable understanding with the borrowers in danger. Many have point blank refused to do so while others are tactfully sidetracking the issue without openly ruffling feathers. This has only exacerbated the problem of Los Angeles Repo Homes and not solved anything.

One of the offending companies is Aurora Loan Services - under the ownership of Lehman Brothers Bank. It would regularly stall borrowers who were requesting for loan modification. Often, according to Labor/Community Coalition to Stop Foreclosures and Evictions, it flatly refused to talk and even threatened the applicants with nearer auction dates and evictions.

To focus on the growing problem of Repo homes in Los Angeles the coalition arranged for a news conference in Los Angeles in the home of one Mauricio Alas (south central Los Angeles) that Lehman had threatened to auction off on 3rd April 2009. The event was well attended with representatives from the national and local broadcasting media and also by the China news service agency - Xinhua.

Gloria Saucedo of Hermandad Mixicana Transnacional (part of the Labor/Community coalition) queried, “How can it be that these financial institutions that caused this crisis in the first place and receive our tax dollars are allowed to ignore federal mandates to modify loans and refinance homes?”

A member of the Service Employees Local 721, Rosie Martinez expressed her anger with Aurora. She said, “Many of our union members are facing the same problems with their home loans. This is a national crisis and we are in a state of emergency. Since these companies are getting away with ignoring federal guidelines, we need at least a two-year moratorium on all foreclosures, especially here in California where the unemployment rate has reached over 10 percent.”

Kevin Simpson, has been working on GovernmentRepoHomes.com studying the foreclosures market, helping buyers on the finer points of Repo Homes in Los Angeles. Try to visit GovernmentRepoHOmes.com and begin your repo homes search.

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