San Diego may soon join Chicago in its quest to fine banks that allow foreclosed homes to deteriorate.

S&P says it will take 46 months to clear out all of the “shadow inventory” that continues to plague the US housing market.

Frederic Alan Gladle, of Austin, Texas, was sentenced earlier this month to 61 months in Federal prison for his role in a mortgage relief scam that netted him over $1.5 million.

Mary Anne Dean, of Severna Park, MD was sentenced to 37 months in prison for her role in a mortgage fraud scheme that stripped homeowners of $1.2 million in home equity.

A former San Diego police officer and his wife have been accused  of trashing their home, after the home went into foreclosure.  The couple allegedly caused over $160,000 in damage.

Five common mortgage scams — don’t let these happen to you!