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Schwarzenegger Terminates CA Foreclosure Bill.(Arnold Schwarzenegger)(Brief Article)
Gov. Arnold Schwarzenegger vetoed a bill that would have prevented California homeowners associations from foreclosing on member homes over small debts.
The bill, which passed both Houses of California's legislature by a wide margin, was introduced in response to a strong public outcry following a case in which a couple's $285,000 house was auctioned off to recover a $120 debt to their homeowners association.
But Gov. Schwarzenegger said the bill was "overly broad" and could lead to higher assessments from homeowners associations.
Under current California law, non-judicial ...
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