What we said: “The California Legislature has one last chance this legislative session to do something for struggling homeowners. SB1275, authored by Mark Leno, D-San Francisco, would require mortgage servicers to decide whether a borrower who applies for a loan modification qualifies to receive that modification – before they foreclose on a house.” – Editorial, Aug. 19, 2010

What happened: SB1275 was defeated in the Assembly on Tuesday, 27-38. The mortgage industry has been lobbying hard to kill every bill that might help homeowners, and it’s close to winning. We were especially disappointed to learn that some of the opponents were from the Bay Area. Shame on Assembly members Alberto Torrico, D-Fremont; Mary Hayashi, D-Castro Valley; Jerry Hill, D-San Mateo; and Joan Buchanan, D-Alamo, for voting against this important bill. And shame on Fiona Ma, D-San Francisco, for not voting at all.

What’s next: SB1275’s author, Sen. Mark Leno, D-San Francisco, will be putting the bill up for reconsideration before the Assembly session ends next week. Bank lobbyists will be working hard to defeat it again. It’s time for our elected representatives to act in the public interest to help keep Californians in their homes.