SACRAMENTO — Attorney General Kamala D. Harris announced that the final parts of the California Homeowner Bill of Rights have been signed into law by Gov. Jerry Brown.
“California has been the epicenter of the foreclosure and mortgage crisis,” said Harris. “The Homeowner Bill of Rights will provide basic fairness and transparency for homeowners, and improve the mortgage process for everyone.”
The governor signed:
Previously signed into law were three other components of the Homeowner Bill of Rights. Assembly Bill 2314, by Assemblymember Wilmer Carter, D-Rialto, provides additional tools to local governments and receivers to fight blight caused by multiple vacant homes in neighborhoods.
Two additional bills, which came out of a two-house conference committee, provide protections for borrowers and struggling homeowners, including a restriction on dual-track foreclosures, where a lender forecloses on a borrower despite being in discussions over a loan modification to save the home. The bills also guarantee struggling homeowners a single point of contact at their lender with knowledge of their loan and direct access to decision makers.
All aspects of the California Homeowner Bill of Rights will take effect on Jan. 1, 2013.