California Foreclosure Bills Fall Flat with Committees

California legislators have put two bills aimed at addressing the state's foreclosure problem to committee votes. Both failed to pass despite the fact that supporters packed the hearing rooms at the state Capitol, but neither is completely dead. They have both been scheduled for new hearings in the coming week. The Senate bill would have made it unlawful for a lender to move forward with foreclosure while evaluating the borrower for a modification. A second bill in the Assembly would have levied a $20,000 fee on lenders and servicers for every foreclosure initiated.

http://www.dsnews.com/articles/california-foreclosure-bills-fall-flat-with-committees-2011-04-29

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.