Mike Rigley Certified Default Advocate,
Distressed Property Expert and your short sale specialist here thank you for
joining us. Today let’s talk about the latest additions to the California Homeowners Bill of Rights as recently
reported by DS News
California attorney general Kamala Harris announced
Tuesday that the final parts of the California Homeowner Bill of Rights were
signed into law by Governor Jerry Brown.
“California has been the
epicenter of the foreclosure and mortgage crisis,” Harris said. “The Homeowner Bill of Rights will provide
basic fairness and transparency for homeowners and improve the mortgage process
for everyone.”
The governor signed
three bills: SB 1474, AB 1950, and AB 2610. SB 1474 gives the Office of the
Attorney General the ability to use a statewide grand jury to investigate and
indict the perpetrators of financial crimes involving victims in multiple
counties. AB 1950 extends the statute of limitations on mortgage-related crimes
to three years.
AB 2610 requires
purchasers of foreclosed homes to give tenants at least 90 days before starting
eviction proceedings. If the tenant has a fixed-term lease, the new owner must
honor the lease unless the owner can demonstrate certain exceptions.
The governor previously
signed into law three other components of the Homeowner Bill of Rights that provide
protections for struggling homeowners and offer tools to local governments and
receivers to fight neighborhood blight caused by vacancies.
All aspects of the California Homeowner Bill of Rights will take
effect at the start of 2013 which include:
- No Dual Tracking meaning your servicer cannot be
considering your West Sacramento Short Sale or Loan mod
and be moving forward with the foreclosure at the same time
- Single Point of Contact – one source for contact on
your West Sacramento Short Sale or Loan Mod
- Enforceability–allowing borrowers to seek redress of
material violations of the California Homeowners Bill of Rights
- Verification of Documents – Recording and filing of
unverified documents by the servicer are now subject to civil penalties of
up to $7500 per loan
Is a West Sacramento Short Sale Right for Me?
To get a better idea of when
your West Sacramento home will be worth what you owe, log
in to www.shortsaleandloanmod.info for a free
estimate or call me today for a free no obligation consultation or for the
latest West Sacramento short sale information. Call
me today and sleep better tonight; you’ll be glad you did
No comments:
Post a Comment