Analysis Of Recently Enacted California Foreclosure Prevention Act

An article on mondaq.com provides a legal analysis of the California Foreclosure Prevention Act (the "Act"), which was enacted by the state Legislature, and signed by Governor Arnold Schwarzenegger on February 20, 2009.

• The bill (ABX2 7) was established as Chapter 5 of the 2009-2010 statutes. The Act resulted from Governor Schwarzenegger's legislative proposal to stem foreclosures in California by incentivizing servicers to offer "comprehensive loan modification programs."

For more, see California´s New Law Trading Foreclosure Moratorium For Mortgage Modification.