California AG demands JPMorgan Chase halt foreclosures
California Attorney General Jerry Brown is the latest to call for JPMorgan Chase (JPM) to halt foreclosures in the state. California is not one of the 23 states Ally Financial, formerly GMAC, and JPMorgan Chase suspended foreclosure sales in. Brown already ordered Ally to suspend foreclosures in his state. Illinois AG Lisa Madigan has demanded a meeting with both lenders. The Connecticut AG has gone a step further and demanded a 60-day foreclosure moratorium for all servicers. An Arizona congresswoman has called for a 90-day moratorium. Both Illinois and Connecticut were included in the initial 23. Arizona was not. "I'm directing Chase to prove it is following the law before it continues foreclosures in California," Brown said. California law prohibits lenders from recording a notice of default on a mortgage made between Jan. 1, 2003 and Dec. 31, 2007 without first proving it has tried to contact the borrower for a possible loan modification. Those states included in the original suspensions are Florida, New York, Ohio, Illinois, Pennsylvania, New Jersey, Connecticut, Hawaii, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Mexico, North Carolina, South Carolina, North Dakota, South Dakota, Oklahoma, Vermont, and Wisconsin. Write to Jon Prior.