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California Governor Jerry Brown signed the Homeowner Bill of Rights into law this week to help struggling Californians keep their homes. This law aims to avoid foreclosure where possible to help stabilize California’s housing market and prevent the other negative effects of foreclosures on families, communities, and the economy.
The new law will generally prohibit lenders from engaging in dual tracking; require a single point of contact for borrowers seeking foreclosure prevention alternatives; provide borrowers with certain safeguards during the foreclosure process; and allow borrowers the right to sue lenders for material violations of this law. The full text of this law, also known as Assembly Bill 278 and Senate Bill 900, is available at www.leginfo.ca.gov.
Silicon Valley Association of REALTORS® says ... 