California Representative Slips into Foreclosure

As the legislature struggles to find a solution to the rising numbers of foreclosures in California, one representative is now feeling the burden of the problem first hand. California state representative Laura Richardson, a member of the House of Representatives, saw her home slip into default last week after she fell behind on her home payments. The debt on her home has now passed a significant amount, and sources say a foreclosure trustee sale has been scheduled.

This shows just how far the foreclosure problem has extended in California. Even though Richardson makes a six figure salary, she too is being affected by the state’s surge in foreclosures. The irony here is that Richardson has been part of recent talks in the state Congress about how to slow the foreclosure trend and find a solution for homeowners.

Reports also indicate that neighbors complained about the foreclosure, citing that Richardson did little to take care of the house, and now it is dragging down property values of homes all around it, a common problem when a foreclosure happens within a community.