California Gold Rush? Righting Underwater Mortgages

Reprinted from the Center for Economic and Policy Research (CEPR), July 16, 2012 By Dean Baker Ever since the housing bubble collapsed, the Federal government has refused to take major initiatives to help underwater homeowners. As a result, we are likely to see close to 1 million foreclosures both this year and next, with the […]

California lawmakers pass historic foreclosure protections

State lawmakers approve what would be the nation’s strongest legislation to help financially troubled borrowers stay in their homes. Gov. Jerry Brown is expected to sign them this week or next. By Marc Lifsher and Alejandro Lazo, Los Angeles Times “SACRAMENTO — California lawmakers have passed legislation that would provide homeowners with some of the […]

OWS Nevada County Helps Forestall Imminent Eviction

Editor’s Note: Here’s an amazing press release from the Foreclosure Group of Occupy Wall Street Nevada County. It highlights the normally less-than-humane foreclosure process, softened in this case by the timely intervention of these good local citizens. Imagine a renter, a single mom with four kids, given less than 24 hours notice to pack-up and […]