California Lawmakers Pass Historic Foreclosure Protections

LA Times - California lawmakers have passed legislation that would provide homeowners with some of the nation's strongest protections from foreclosure and such aggressive bank practices as seizing a home while the owner is negotiating to lower mortgage payments.

After years of distress in the housing and mortgage markets, during which lenders seized nearly a million California houses, legislators Monday sent a pair of Assembly and Senate bills to Gov. Jerry Brown designed to help financially troubled borrowers stay in their homes.  Read more.