Over the last four months, the NAAC has taken a leading role in promoting the California Homeowner Bill of Rights. This included our being the first organization to testify before the Legislature why California needed a Homeowner Bill of Rights.
Two dozen homeowners and NAAC home counselors joined us.
We also held a protest at Governor Brown’s office to urge the Governor to support the Homeowner Bill of Rights.
Early this month, the Legislature enacted the strongest Homeowner Bill of Rights in the nation and the Governor has announced that he will support this legislation despite the opposition of the banking industry, the California Chamber of Commerce and other powerful special interests. This is truly a victory for the people.
The new law prohibits banks from proceeding with a foreclosure when a homeowner is seeking a loan modification. It also requires all banks to provide a single point of contact at the bank and to fully explain the reasons for denying a loan modification. Plus, the homeowners have a right to sue the banks if they violate this new law.
The Bill goes into effect January 1st. But we will be calling a meeting with all the banks to request that they comply by the end of this summer.
All Articles in this Issue:
- Crisis in Sacramento: Report on Housing, Jobs, Taxes, High Speed Rail and Pensions
- California’s New Homeowner Bill of Rights: Best in the Nation
- Governor’s Controversial Tax Initiative
- 68 Billion Dollars for the High Speed Rail that May Never Be Built
- Pension Reforms Could Assist the Public Schools, the Disabled, and the Elderly
- Asian American Empowerment