Nearly six months ago, the nation’s five largest loan providers — Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo — agreed to the $25 billion National Mortgage Settlement in response to the ongoing foreclosure crisis. The terms of the settlement just went into full effect. Thanks to California Attorney General Kamala Harris, almost half the settlement — $12 billion — was set aside for our state. Read More

Owners of foreclosed properties in San Francisco, such as banks, are coming under fire for allowing some of those homes to fall into disrepair. Supervisor Malia Cohen, whose District 10 includes the Bayview, has introduced legislation that would subject foreclosed properties to The City’s nuisance law, which allows for court abatement injunctions and fines. It also would triple the nuisance penalties for owners of 10 or more foreclosed properties. Read More