House Finance Committee Probes Foreclosures

Law360, New York (November 30, 2007, 12:00 AM EST) -- The U.S. House of Representatives Committee on Financial Services has organized three hearings addressing foreclosure prevention, affordable housing and the House’s recent mortgage reform bill in the face of the current mortgage downturn.

On Friday, the Financial Services Committee’s housing and community opportunity subcommittee held a hearing in Los Angeles addressing the foreclosure problems in California. A second subcommittee hearing is scheduled for Wednesday to address the housing needs for low-income veterans.

The housing subcommittee’s hearings are leading up to a full Financial Services Committee hearing...
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