California has a new law to stop what Gov. Jerry Brown calls abusive home lending tactics.
The number of delinquent mortgages fell in May to the lowest level since 2006, the result of a slowing housing market and delays in banks’ foreclosure process.
As long as unemployment stays high in California, more people will likely be forced out of their homes by foreclosure, a state panel warned on Monday.
California Attorney General Jerry Brown says Wells Fargo Bank N.A. has agreed to modify adjustable-rate loans made to nearly 15,000 Californians by lenders that it acquired.
The recent data suggests foreclosures may be leveling off, but one analyst notes that may have more to with how lenders are opting to proceed when it comes to defaults.