Who Exactly Is Defining “Stability?”

(Lawmakers are scheduled to vote July 2 on a package of measures aimed at bringing relief to homeowners with under-water mortgages. This is the “objective” summary of one of the bills:)

” DIGEST: This bill (SB 900) makes changes to California’s non-judicial foreclosure process to provide stability to California’s statewide and regional economies and housing market by facilitating opportunities for borrowers to pursue loss mitigation options.”

(Emphasis added. And, ahem, isn’t “stability” — like “reform” –pretty much  in the eye of the beholder? Shouldn’t let it slide but giving a pass to “facilitating opportunities” and “loss mitigation options,” whatever they mean. The author must simply live with the shame.)


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