Celebrity, politician, or regular joe, foreclosures can happen to anyone. It happened to U.S. Representaive Laura Richardson in Sacramento and now it's happening to "heeeeeeeere's Johnny" Ed McMahon at his Studio City home. McMahon is fighting it, but is $644,000 behind in mortgage payments. "Mr. McMahon broke his neck in a fall about 18 months ago and hasn't been able to work," said Howard Bragman, a spokesman for Mr. McMahon, per the Wall Street Journal.......

Photo of bungalows in Monrovia by Living in Monrovia via Flickr The City might not want to help you buy a home, but the Repo Bus Tour will help you find one. A driving tour of SGV neighborhoods has been assembled by Pasadena-based LTV Real Estate, reports the Pasadena Star-News. The tour takes prospective home owners through parts of Duarte, Covina, West Covina, Monrovia, and Pasadena, and shows them homes that are in foreclosure and......

An article in the NY Times advises renters are better off paying that monthly check to the landlord than actually buying property. In “A Word of Advice During a Housing Slump: Rent” writer David Leonhardt takes data from every metropolitan area (including LA) to forecast the benefits of buying vs. renting. Leonhardt writes: “Over the next five years, which is about the average amount of time recent buyers have remained in their homes, prices......