Homeowner Bill of Rights supporters declare victory, for now

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The California State Legislature passed the Homeowner Bill of Rights (SB 900 and AB 278) on July 2.

The bill is supported by those who have scrutinized the foreclosure practices of several “Big Banks.” Supporters are declaring a victory four years in the making. “‘Dual tracking’ — when a homeowner is negotiating with their bank only to be suddenly foreclosed upon — will be outlawed,” said Courage Campaign’s Chair and Founder, Rick Jacobs.

“Lenders will have to provide homeowners with a single, accountable point of contact, ending the run-around of starting over with a new customer service representative every time they call,” and he added, “most importantly, when banks break the law, Californians now have the power to take them to court and stop a foreclosure.”

At a press conference, California Attorney General Kamala Harris’ said that the well-informed homeowner armed with the counseling services that the bill will provide will be far better able to make use of the new laws than “going it alone” when attempting to save their home.

The bill will now go to the desk of Gov. Jerry Brown, at the moment it is not clear whether the governor will sign or not. Supporters of the bill are launching campaigns to have voters call, email and tweet the governor to sign it.

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