10,000 wait in line at Cal Expo in bid to save their homes

Now that the foreclosure genie has been let out of the bottle, it will be politically difficult to get it back in. Attorney Generals from many states have begun to sue the mortgage issuers whom will find no sympathy with the public.

They came by the thousands, transforming normally festive Cal Expo into a venue emblematic of California's nightmarish housing meltdown.

An estimated 10,000 people were in line Friday morning when the Cal Expo Pavilion's doors opened on a five-day event aimed at helping distressed homeowners avoid foreclosure.

A note from Jim raises an important point,

What do the banks do regarding the Securitized Mortgages it sold, buy them back? There isn't enough money in all of their balance sheets put together. The political climate for bail out number two is not high.

Source: sacbee.com