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California lawmakers revive bill that would kill dual-track foreclosures 

Mar 03, 2011By

Two California lawmakers are moving ahead with a bill that would prevent servicers in the Golden State from foreclosing on homes when the borrower is in the process of applying for a loan modification. In the legislation, state Sen. Mark Leno (D-San Francisco) and Sen. Darrell Steinberg (D-Sacramento) attack dual-track foreclosures, which allow servicers to continue the foreclosure process while the borrower is waiting to hear back on a loan modification application.

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