Homeowner Bill of Rights: California lawmakers on Tuesday were expected to vote
on a number of foreclosure-related bills collectively known as the Homeowner
Bill of Rights pushed by that state's attorney general.
Among them, a bill that would address the "dual-track" process of foreclosing while still negotiating a loan modification, which Oregon lawmakers attempted to address with Senate Bill 1552.
-- What each bill would do (U-T San Diego)
-- 25 states attempt foreclosure regulation -- with an Oregon mention (Wall Street Journal)
-- The bill is likely to pass with moderate Democrats' support (San Francisco Chronicle)
New home starts: The Commerce Department reports homebuilders started work on 0.9 percent more homes in May, the largest increase in construction spending in five months.
Foreclosure sales: The National Association of Realtors reports the share of home sales made up of homes in foreclosure has dropped to 25 percent. That's number's been in decline since the beginning of the year, during which time total sales have increased. Foreclosure sales tend to weigh down home prices, particularly if they make up a large portion of the homes on the market.
Fake foreclosure: A North Portland woman says she was duped into moving out of her home by a fake foreclosure and eviction notice. Then, in September, a group of squatters moved in.
Bank of America, which had scheduled a foreclosure auction on the house but hadn't yet sold the home, said in a statement:
"Property owners should be aware that an eviction notice is not sent unless a foreclosure has been completed first. If a homeowner receives a suspicious notice, we suggest calling the customer service number on the monthly statement to find out if it is real."
Construction tax: The Home Builders Association of Metropolitan Portland and two area builders will drop their legal challenge of a regional construction excise tax. The association originally supported the tax for funding planning in newly developable areas, but said Metro unfairly broadened its use.
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