Calif. Poised To Be 1st State To Write Mortgage Deal Into Law

Law360, San Diego (July 2, 2012, 9:20 PM EDT) -- California lawmakers approved legislation Monday that aims to protect homeowners from foreclosure abuses and would make the state the first to put most of the national mortgage settlement into law, despite Republican objections that it would spur litigation and slow the housing market recovery.

The full state Senate voted 25-13 to pass S.B. 900 and A.B. 278, sponsored by California Attorney General Kamala Harris. The bills, which are part of a package known as the Homeowner Bill of Rights, seek to bring an end to dual-track...
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