Although the legislation has yet to pass, the Press Enterprise reports that there is momentum gaining for new legislation aimed at making it easier for homeowners to refinance their property at today’s rates. The legislation will help nearly 2 million people who could benefit from more affordable payments at today’s mortgage rates. While the proposed legislation may help some homeowners make their payments, it does nothing to address the underlying issue of inflated loan amounts. If the litigation does not pass, you may still have options through a loan modification or bankruptcy. Contact the Riverside attorneys at De Novo Law Firm for more information.