Clippings 6-22 – 6-24

California foreclosure prevention bill is likely to advance (LA Times)

A conference committee is expected to approve SB 900 next week and send the package to the floors of both the state Assembly and Senate for final debates and votes.

Passage by the committee, which has four majority Democratic and two Republican members, is considered assured now that a key, business-friendly Democrat, Sen. Ron Calderon, has signaled his support…

“I think this is a product that represents a lot of significant compromises but, at the end of the day, is a step forward,” said Paul Leonard, director of the Center for Responsible Lending in Oakland.

Foreclosure reviews to offer cash, legal remedies (San Francisco Chronicle)

Federal regulators probing banks’ alleged mishandling of foreclosures said Thursday that some homeowners might get as much as $125,000 each in remediation and would retain the right to sue.

Woman Forcibly Removed From Home, In Spite Of Restraining Order Against Citibank (The Consumerist)

A federal court recently issued a temporary restraining order preventing the bank from foreclosing while the case is litigated, but that didn’t stop county constables from forcibly removing her from her home last week.

Video: Occupy Our Homes: Fighting Back. Winning. (Loud Sauce)

The video opens with Monique White in Minneapolis, who recently won her fight against foreclosure, securing a mortgage reduction from US Bank that allows her family to stay in their home. Help us support more people in the fight for their homes.

Refis on underwater jumbo loans nearly impossible (San Francisco Chronicle)

…they’re trapped in a mortgage with a 6.375 interest rate – sky-high compared with current rates, which average 3.7 percent – and they can’t refinance because their house is underwater and their jumbo mortgage is excluded from government plans for underwater refis.

Occupy Our Homes Atlanta protests at Buckhead bank (Creative Loafing)

About 30 people from the group “Occupy Our Homes Atlanta” entered the PNC Bank’s Buckhead branch on Piedmont Road this afternoon to protest the bank’s foreclosure and eviction of a Minnesota family’s home – an act which has become a focal point for the nationwide “Occupy Our Homes” movement.

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