Housing Foreclosure: Mayor Seeks Delay in Foreclosure Proceedings

Housing Foreclosure: Mayor Seeks Delay in Foreclosure ProceedingsMayor Edwin M. Lee today asked the nation's five mortgage loan servicers that settled in the joint federal-state mortgage settlement to voluntarily pause foreclosure proceedings against homeowners who are at risk for foreclosure but could be eligible for assistance under the terms of the settlement. 

San Francisco was joined by Fresno, Oakland, Sacramento and San Jose in a letter to executives at Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial to pause foreclosure proceedings against some borrowers until the settlement is finalized and the monitoring mechanisms are fully in place. Read more. 

Posted on June 6, 2012 | The comments to this entry are closed.