SANTA CRUZ > How one local is moving past his foreclosure
Local Ken Foster exemplifies the harm that can be done by just one foreclosure. After his ecological landscaping business, TerraNova, began “flat lining” in 2008, Foster says he took some risks to save his business, ultimately at the cost of his home. In order to meet business expenses and make payroll, he fell behind on mortgage payments, beginning more than two years ago. Facing default and foreclosure, Foster began what would be more than two years of struggle with Chase Bank on his qualifications for a loan modification so he could keep his home with reduced income.