California Foreclosure Relief Bill Ready For Governor's Signature; Gives Local Municipalities Right To Fine Unmaintained Vacant Foreclosed Homes

The San Francisco Chronicle reports:

• A bill designed to help Californian homeowners avoid foreclosure is headed for the desk of Gov. Arnold Schwarzenegger, who said Wednesday that he supports the measure. [...] The bill, which came in response to California's subprime mortgage crisis, requires mortgage holders to contact homeowners by phone or in person at least 30 days before filing a notice of default and calls for discussions about alternative payment options. The bill also doubles the time preceding eviction from foreclosed rental properties from 30 to 60 days, and gives local governments the authority to fine owners of vacant [foreclosed] lots that are not maintained.

For more, see Foreclosure aid bill in hands of governor.