San Bernardino, California<br />
July 18, 2012<br />
<br />
San Bernardino, hit hard by the housing and mortgage crisis, has declared a fiscal emergency, allowing the city to avoid a lengthy mediation process and head straight to federal bankruptcy court.<br />
<br />
The declaration comes after the city announced last week that it would seek Chapter 9 protection, making it the third California city in recent weeks to make the rare move.

Details

Foreclosure West
San Bernardino, California
July 18, 2012

San Bernardino, hit hard by the housing and mortgage crisis, has declared a fiscal emergency, allowing the city to avoid a lengthy mediation process and head straight to federal bankruptcy court.

The declaration comes after the city announced last week that it would seek Chapter 9 protection, making it the third California city in recent weeks to make the rare move.

Filename: 6114_07_18_2012.JPG
Photographer: ARCHIVE ANTHONY SUAU
Source:
Date 18 May 2012
Location: San Bernardino California USA
Credit: Anthony Suau © 2012
Copyright: Anthony Suau © 2012
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Property Release: No
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