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City at Noon: Council quiet about foreclosure bill

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The Senate Banking Committee has passed by a very wide margin a compromise bill that could enable about half a million at-risk homeowners across the country to trade ARMs for fixed government-backed loans.

City Council has barked quite about the mortgage default numbers. Now that a credible bill that could help up to 5,000 City of LA homeowners---far more than any locally proposed package---seems on the verge of sailing through the Senate, what does the City have to say?