Home buyers, particularly those with limited English skills, vulnerable to deals that end in foreclosure or ruined credit: Pitfalls of housing boom uncovered

“Two years ago, Luis Mapula was living in a converted garage with his wife and two daughters, earning $54,000 a year as a fence company construction worker. Then, almost like magic, he became the owner of a $543,000 home with no down payment.

Situated on a quiet cul-de-sac off Quimby Road in East San Jose, the two-bedroom home was to have been his familys piece of the American dream. Instead, it became a financial trap that consumed most of Mapulas income. He got out only after his real estate broker took back the home and paid off the loan as part of a legal settlement.”

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