Tag: foreclosure

After months of negotiating with the bank to no avail, a local real estate investment company filed for bankruptcy on July 10, to avoid foreclosure on two downtown Gilroy properties.

A new development in the twisted saga for the battle over Sargent Ranch - vast expanse of undulating hills, pristine streams, unsullied wildlife habitats and unincorporated farmland just south of Gilroy - popped up last week in a Santa Cruz Sentinel legal notice alerting the public to a foreclosure auction slated later this month.

Pinpointing the prime cause of California's slow recovery from recession is easy: Too little has been done about the crisis in housing construction, values and foreclosures.     

Loans made by the Morgan Hill redevelopment agency to affordable home buyers at Madrone Plaza will not be jeopardized by the bank's partial takeover of the project, city staff said.