Word: modesto
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...ByDesign Financial Solutions, a debt-counseling service in Modesto, Calif., they're working overtime these days. "Our call volume went up 97% in the past five weeks, which has left us scrambling," says Martha Lucey, president of the nonprofit agency. "[The callers] are close to the max on their credit cards, and they just can't figure out how to manage. We've seen credit-card companies decreasing lines of credit, and the [debtors] don't have any room left. They just can't juggle things like they used...
...Keller's, a popular Modesto housewares store, the end of that profligacy is shockingly apparent to owners Cherie and Joyce Keller. Sales are evaporating, and they are worried about the Christmas shopping season. "It was sudden death - there were no people shopping," says Joyce Keller. "It took the crash for people to understand that this wasn't just a problem in California...
...U.S.S.R. under the U.S. flag." Thompson voted against the measure. Says Tuttle: "We have a perfectly valid branch, the FDIC, there to take care of problem banks. Let them close the bad banks, sell the branches and go through a process we already have in place." - By Kristin Kloberdanz / Modesto...
Just recently, this quiet, agricultural town of 200,000 was in a boom period. House prices shot up in the early 2000s, and Modesto became a bedroom community for the Bay area. But then the subprime mortgage crisis hit hard: in February alone, Stanislaus County had 1,630 foreclosure filings, third highest in the nation. The physical toll it is taking on this hub nestled amid the almond groves is staggering. Huge, dusty stretches of subdivision developments lay untouched or partially built as developers run out of money...
...joining forces to help residents prevent foreclosure. In fact, less than a mile away from the peach-colored home, close to 1,000 people recently gathered for the city's first free No Homeowner Left Behind seminar, sponsored in part by the city and the local newspaper, the Modesto Bee. Worried residents gathered to spend their Saturday talking to lenders about how they can avoid losing their own homes. "I'm stressed and in turmoil and have butterflies in my stomach," says P.J. Scruggs, who says she is two months behind in paying her mortgage. She is afraid she will...