What's Hot on HousingWatch This Week

Mortgage defaults and foreclosure scams and a foreign invasion, oh my! It was another wild week here on HousingWatch -- see what our readers thought was interesting over the past 7 days:

1. Adam Carolla Selling His 'Overbuilt' L.A. Hills Home for $1.3M
Professional funny guy Adam Corolla is looking to unload his L.A. home more than 5 years after moving out. The former Man Show host customized the French-style home into a bachelor's dream, complete with multiple bars, a hot tub, and master-bedroom fireplace. Read more.

2. U.S. Real Estate Deals Snapped Up by Foreign Buyers
The British are coming! ... for the hot real estate bargains currently found across the U.S. The National Association of Realtors has just released surprising stats on the percentage of recent U.S. home sales to foreigners. Read more.

3. NFL's Joe Montana Sells Wine Country Mansion For $49M
NFL superstar Joe Montana has recently settled down in San Francisco, and is shedding some of his other real estate interests -- including his massive NorCal wine estate (so big it stretches across both Napa and Sonoma counties). Read more.

4. Energy Efficiency Loans Lose the Backing of Fannie Mae and Freddie Mac
In a lose/lose for both homeowners and the environment, the agency that oversees federal lenders Freddie Mac and Fannie Mae issued a statement this week preventing borrowers from reaping the benefits of a program aimed at improved energy efficiency. Read more.

Mortgage Defaults More Common Among the Wealthy
So this is how the rich get richer: Many wealthy homeowners of million-dollar home are hopping on board with the new "strategic default" trend, walking away from their underwater mortgages to let their banks deal with the fallout. Read more.

6. Foreclosure Rescue Scams: How to Recognize Bogus Mortgage Help
Though quick-fix foreclosure-assistance offers may be tempting for stressed-out homeowners who are behind on mortgage payments, it pays to do a little research first. Check our list of red flags before you accept an offer of help. Read more.

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