The California legislature is considering a handful of bills designed to help California borrowers. The bills fall into two categories – those that help people who already are in trouble and those that will prevent the current situation from happening in the future.
The Sacramento Bee has a good story on this. It is still too early for real commentary on the bills. As you may know, bills get gutted, amended, killed, and manipulated like crazy. Just because a bill is set up to help borrowers now doesn’t mean it will end up that way. It could end up being a bill that will help Martians. (Okay, the Legislature hasn’t done that – yet.)
I will keep you updated on these bills.