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Fri, Feb 10, 2012 -- 9:00 AM
Calif. and the Foreclosure Settlement
Kevin Dietsch-Pool/Getty Images
President Obama speaks about the details of a $26 billion housing settlement between federal and state officials and mortgage lenders on February 9, 2012.
This week's mortgage foreclosure settlement with five large banks will inject nearly $26 billion in financial relief to homeowners across the country. The lion's share will come to California, which has been hardest-hit by the mortgage crisis. We explore what the settlement means, and next steps.
Host: Scott Shafer
Guests:
- John Gittelsohn, real estate reporter with Bloomberg News
- Kevin Stein, associate director of the California Reinvestment Coalition, an organization that advocates for equitable access to financial services for low-income and minority communities
- Paul Leonard, director of the Center for Responsible Lending
- Phil Angelides, president of Riverview Capital Investments, former chairman of the Financial Crisis Inquiry Commission and former California state treasurer
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