Today, the California state Legislature is scheduled to vote on a package of bills to protect homeowners at risk of foreclosure. The legislation is backed by the attorney general, but faces criticism by the California Bankers Association and others who say it will “encourage frivolous litigation.” The action comes as a new report finds 11 percent of borrowers in the state at risk of foreclosure.
Calif. Homeowner Bill of Rights Nears Passage
(Justin Sullivan/Getty Images)
Guests:
Christopher Thornberg, founding partner of Beacon Economics, an independent economic research and consulting firm headquartered in Los Angeles
Stuart Gabriel, director of the UCLA Ziman Center for Real Estate and Arden Realty chair and professor of finance at the UCLA Anderson School of Business
Paul Leonard, California director of the Center for Responsible Lending
Mike Eng, California assemblyman, 49th District (D-Alhambra) and co-chair of the Joint Conference Committee on the California Foreclosure Crisis
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