Foreclosure crisis 'is like Hurricane Katrina'

Panelists discuss how homeowners, lenders can reduce losses
By Inman News, Thursday, July 24, 2008.
Inman News

SAN FRANCISCO -- The massive waves of foreclosures have bogged down the nation like a natural disaster and require a large-scale response, said Frances Flynn Thorsen, managing editor for the RealTown.com online community.

"This crisis is like Hurricane Katrina, and in order to save it, we all have to come together like people came together for Katrina," said Thorsen, a panelist during a Foreclosure Workshop session on Wednesday at the Real Estate Connect conference.

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