BUSINESS BRIEFING / REAL ESTATE
TIMES WIRE REPORTS
President Obama said homeowners facing foreclosure would have a second chance under a measure he signed into law, but he added that consumers must live within their means.
The law encourages banks to spare homeowners from foreclosure and cracks down on lenders who take advantage of them.
Congress passed the bill this week, and Obama bypassed a promised five-day waiting period to make it law.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
