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Loan Modification

: Loan Modification & Home Loan News

California legislators propose law, SB1275 to prevent foreclosures

By Moe Bedard

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A proposed California law, SB1275, seeks to prevent similar situations by requiring lenders to give a decision on loan modifications before starting foreclosure proceedings. A similar provision took effect Tuesday for banks complying with the federal Home Affordable Modification Plan, or HAMP, but the California law goes a step further by specifying that borrowers can sue [...]

Full post as published by Loan Modification & Home Loan News on June 02, 2010 (boomark / email).

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