california sb 1178: Victory for Homeowners in California
- 08/19/10 07:01 PM
NEWS ALERT: August 19, 2010
By a 49 to 14 vote, the California State Assembly approved SB 1178 extending anti-deficiency protection for consumers who have refinanced their original mortgage loans and now are facing foreclosure.
We've been waiting for a decision on this bill simply because it seemed unfair that those who refinanced their original loan couldn't get the same protection even though several of them refinanced it to get a lower interest rate. Many of them are now facing foreclosure too because of job loss or a huge decrease in their income.
"Under existing law, if a homeowner defaults on a mortgage used to purchase a home-commonly … (1 comments)
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NEWS ALERT: August 19, 2010
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