Foreclosure Scams

2008 saw a record number of foreclosures in California -- nearly a quarter-million -- despite a law that went into effect in September requiring lenders to give homeowners advance notice before filing a default. And the pace of foreclosures in the new year doesn't seem to be slowing down. But a few industries are thriving in the current economic climate -- including what's known in the business as "loss mitigation services." That means charging a fee to help people facing foreclosure try to save their homes. As KALW's Zoe Corneli reports, a cottage industry has sprung up in this area, but not all the players are legitimate.