Mortgage Relief to Prevent California Foreclosures

In an effort to slow the pace of home foreclosures and stabilize California’s shaky economy, Gov. Arnold Schwarzenegger yesterday unveiled a proposal to help borrowers modify troubled mortgages while making lenders more accountable.  The centerpiece of the plan is a 90-day stay of foreclosure for owner-occupied homes that have a first mortgage in default. Schwarzenegger [...]

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