Calif. Cities Want Stay On Foreclosures In View Of $25B Deal

Law360, San Diego (June 6, 2012, 9:34 PM EDT) -- San Francisco Mayor Ed Lee and four other California mayors on Wednesday urged the five banks that were part of the $25 billion national settlement over mortgage abuses to temporarily put foreclosure proceedings on hold for homeowners who may be eligible for relief under the court deal.

Lee, along with the mayors of Sacramento, Oakland, San Jose and Fresno, sent a letter to executives at Bank of America Corp., JPMorgan Chase Bank NA, Wells Fargo Bank NA, Citigroup Inc. and Ally Financial Inc. to freeze foreclosures...
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