Tuesday, March 8, 2011

California Senators Reintroduce Bill to Prevent Wrongful Foreclosures

http://www.dsnews.com/articles/california-senators-reintroduce-bill-to-prevent-wrongful-foreclosures-2011-03-04

With 305,000 California borrowers receiving notices of default and more than 170,000 families losing their homes to foreclosure in 2010, Sen. Mark Leno (D-San Francisco) and Senate President Pro Tem Darrell Steinberg (D-Sacramento) are again pushing for legislation that would help prevent what they deem as "wrongful foreclosures." Their California Homeowner Protection Act would require that borrowers be given a decision on a loan modification before the foreclosure process can begin.