Air Force veteran tries to hold on to his home

(CBS News) FORT LAUDERDALE, Fla. - The latest numbers show America's housing is easing. The number of foreclosures nationwide are down 16 percent from September of last year. But in Florida, one of the hardest-hit states, foreclosures are still on the rise -- up 24 percent. From Fort Lauderdale, we have one man's story.

Pat Juno, 72, has spent two years trying to hold on to his home in Fort Lauderdale.

Juno went into foreclosure after his dry cleaning business failed. The Air Force veteran's only income is Social Security, not nearly enough to pay his $2,800-a-month mortgage.

"I'm trying to call everybody I can, sending them letters, trying to get them to help me instead of throwing me into the street. Absolutely no responses."

About 18 of the 50 cities with the highest foreclosure rates are in battleground states: Florida, Ohio, Wisconsin, Colorado and Nevada.

Mitt Romney's solution would be to ease government regulations to encourage lenders to offer refinancing to more homeowners.

President Obama wants to expand refinancing programs for borrowers. He wants to include mortgages owned by banks.

Obama also wants lenders to offer unemployed homeowners a one-year grace period from foreclosure.

Asked about how he's feeling, Juno said, "I'm feeling very abandoned."

He isn't sure either plan can help him in time. He hopes the bank will agree to sell his house for $200,000 less than he owes.

"All of the taxes I paid in the past, and all the things I did for my country in the service is wasted," he said. "My life feels like it's a waste."

With a failed business and a foreclosure on his credit report, Juno won't be able to even consider buying another home for at least three years.

  • Manuel Bojorquez

Comments

Follow Us

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

On Twitter