CA Homeowner Bill of Rights Becomes Law

The Homeowner Bill of Rights, which is supposed to protect homeowners and borrowers during the mortgage and foreclosure process, was signed into law Wednesday by Governor Brown.

The Homeowner Bill of Rights prohibits a series of inherently unfair bank practices that have needlessly forced thousands of Californians into foreclosure, says Attorney General Kamala Harris.

The law restricts dual-track foreclosures, where a lender forecloses on a borrower despite being in discussions over a loan modification to save the home. It also guarantees struggling homeowners a single point of contact at their lender with knowledge of their loan and direct access to decision makers, and imposes civil penalties on fraudulently signed mortgage documents. In addition, homeowners may require loan servicers to document their right to foreclose.

“The California Homeowner Bill of Rights will give struggling homeowners a fighting shot to keep their home,” said Attorney General Harris. “This legislation will make the mortgage and foreclosure process more fair and transparent, which will benefit homeowners, their community, and the housing market as a whole.”

To learn more about how the bills impact California homeowners, review the slideshow at: www.oag.ca.gov.

  • Renee Hauser

    Finally! This is such a major win for both homeowners and Harris. 

  • Justin West

    This is the boost the economy needs! It’s amazing that it took this long and and that there wasn’t already a bill like this in place. But, thankfully Harris has been pushing this for the homeowners.