Foreclosures hit hard in Los Angeles
Tuesday, August 19th, 2008
The city of Los Angeles, CA is recently struggling more than ever with the housing market and dealing with the sky high foreclosure rate of up to 300 percent. The state of California is supposed to receive up to $1.2 billion in federal housing aid; the amount going to help the Los Angeles region is still unclear. The Los Angeles Housing department states that the housing market is the worst that it has been in years. Once the numbers are released of how much of the funding LA will receive, city councils state that they will immediately begin working on ways in order to help the community with the foreclosure problems.

