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.
Calif. and the Foreclosure Settlement
(Kevin Dietsch-Pool/Getty Images)
Guests:
Phil Angelides, president of Riverview Capital Investments, former chairman of the Financial Crisis Inquiry Commission and former California state treasurer
Paul Leonard, director of the Center for Responsible Lending
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
John Gittelsohn, real estate reporter with Bloomberg News
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