Do you think the Homeowner Bill of Rights will help homeowners?
Yes (46%, 97 Votes)
No (42%, 87 Votes)
It will have no impact. (12%, 25 Votes)
Total Voters: 209
A portion of the Homeowner Bill of Rights, sponsored by the California Attorney General, has passed. The suite of bills making up the Homeowner Bill of Rights was proposed earlier this year as a preventative measure against foreclosure abuses by lenders against homeowners.
With the passage of these two state bills, Assembly Bill (AB) 278 and Senate Bill (SB) 900, California has become the most proactive state in protecting homeowners facing foreclosure.
The laws apply only to first-lien mortgages and prohibit a lender holding such a loan from:
dual tracking—simultaneously negotiating a loan modification and pursuing foreclosure;
robo-signing—improperly processing foreclosure documents; and
assigning distressed homeowners more than one representative or point of contact each.
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