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California Consumer Groups Ask for Foreclosure Moratorium

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By Admin on May 17, 2007 10:35 AM

At least 115 California consumer and community organizations have asked six top mortgage lenders to help stop the nationwide trend of home foreclosures and predatory lending. According to the California Reinvestment Coalition, a group which advocates for the rights of low-income communities (and which organized the request), "the lenders are being asked to declare a temporary moratorium and direct homeowners to financial solutions that will allow them to keep their homes."