Though not a huge player in the Fresno area, the experience of Woodside Homes is indicative of what is going on in this brutal housing slump.

The company, which has three tracts in Fresno and Clovis, says it will file a voluntary reorganization petition after five insurance companies holding bonds tried to force them into court.

Woodside said sluggish sales and tight credit is squeezing the company and seeks reorganization. Meanwhile, the subdivisions that it is building remain active and selling. Here is a story from a trade publication.