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Struggling seniors being saddled with 40-year mortgages

ORLANDO, Fla. — Maria Olmo, 63, doesn't like her chances of paying off her new, 40-year mortgage. "I'll die before it's paid off," said Olmo, who got her 30-year mortgage modified because she was at risk of losing her home to foreclosure.

Rep Darryl Rouson’s financial woes

Last year, State Rep. Darryl Rouson reported nearly $280,000 in income. Yet the St. Petersburg lawyer also has considerable debts — among them, the loan on a Chicago house that has been in foreclosure. Rouson said he bought the house...

Mortgage assistance programs help people through patches of unemployment

When Jose Palomo lost his job doing concrete maintenance for the city of Riverside, he said his mortgage lender told him there was no way he could save his house from foreclosure, especially since his father, who lived with him, also was laid off the assembly line at Fleetwood, an RV company that went bankrupt. "Without any kind of income they said there was nothing we could do," said Palomo.

‘Vultures’ Save Troubled Homeowners

As the nation struggles with the foreclosure crisis, certain investment funds are emerging as the best hope for the roughly seven million U.S. households behind on their mortgage payments.

Yuma Fun Factory subject of bankruptcy, foreclosure

The lights are on but no one is home at the Yuma Fun Factory with the closed family entertainment center embroiled in a legal tangle involving bankruptcy and foreclosure.