California State Attorney Kamila Harris bolted from talks with the nantion's five largest lenders to reach some settlement. Without California's participation, the plan to reach settlement in the $20 to $25 billion would be impossible.
The plan under consideration would make refinancing available to some borrowers whose houses are worth less than their loans, so long as they are current on mortgage payments, according to people familiar with the matter. Please click on the link below.
WSJ: New Mortgage Plan Floated