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PermalinkWednesday, July 11, 2012
California Governor Jerry Brown has signed new legislation intended to help struggling homeowners avoid foreclosures.
Governor Brown Signs 'Homeowners Bill Of Rights'
Aired 7/11/12
California Governor Jerry Brown has signed new legislation intended to help struggling homeowners avoid foreclosures.
Democratic lawmakers passed the “Homeowners Bill of Rights” package last week over the objections of the banking industry and most Republicans.
Today’s signings are a victory for Attorney General Kamala Harris. She lobbied heavily for the bills and says they’ll help end unfair lending practices. “We’re done with dual track. We’re done with the runaround. We’re done with the okiedoke. We are done with robosigning. We are done with abusive tactics and empty promises – we’re done!”
The new laws take effect on January 1st. They will bar foreclosures while loan modifications are pending and offer homeowners a single point of contact with lenders.
Homeowners will also be allowed to sue banks, with certain restrictions, if they believe they’ve been wrongly foreclosed upon.
Comments
victorsteam | July 11, 2012 at 11:17 p.m. ― 10 months, 1 week ago
interesting, if you have questions let me know. Victor 323 246 2295
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