Perata Foreclosure Bill Passes Senate



Don Perata keeps doing important work in the Senate, forcing us to entertain increasingly complicated opinions about whether he's good or bad for California. Yesterday, the Senate President mustered Senate approval for a bill that would give homeowners facing foreclosure a chance to work out payment options with their lenders. At a time when thousands of homeowners lose their homes every month, this could give borrowers the breathing space they need to stave off disaster. The bill now goes to the Assembly, with the support of the California Mortgage Bankers Association.