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20 Jun 10 California Loan Modification Bill SB 1275

According to the LA Times, SB 1275 would prevent lenders from foreclosing on borrowers who are seeking to modify their home mortgages. California Senators Mark Leno and Darrell Steinberg are proposing to extend the same protection to all Californian homeowners making an effort to get a  loan modification. The California loan modification bill (SB 1275) would stop a lender or mortgage service company from initiating the foreclosure process until after a mortgage loan modification application was denied. Read the original article online > Are California Loan Modification Plans Working for Lenders?

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