Home Owner Bill Of Rights on Foreclosed Properties in California San Francisco Oakland Alameda

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Mortgage and Lending with Caliber Home Loans NMLS# 242952

 

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 San Francisco; Ca; A Homeowner Bill of Rights has been introduced to the California State Assembly in the form of seven bills entered Focused on the impacts of foreclosure.

California Attorney General Kamala D. Harris’s office said that the proposed legislation seeks to protect homeowners from unfair banking practices related to foreclosures and provide remedies for communities threatened by blight from foreclosed properties.

Two of the bills would provide local communities with the ability to bring increased penalties against the owners of blighted properties deterioration, faulty planning, inadequate or improper facilities, deleterious land use or the existence of unsafe structures, or any combination of these factors,, even taking control of the property.

Another bill would protect tenants in foreclosed buildings. Purchasers of foreclosed properties would have to honor the terms of existing leases and allow tenants at least 90 days before commencing on eviction proceedings.

There are two bills which would provide additional tools for the Attorney General to investigate and prosecute mortgage frauds and crimes.

The final two bills in the clutch of legislation would allow the Attorney General to convene a special grand jury to investigate and indict the perpetrators of financial crimes when the victims are in multiple jurisdictions.

All seven of the bills have passed out of the appropriate legislative review committees and are heading toward a vote of the whole assembly.

If you have any questions or need help getting pre approved for a home loan to buy REO’s or any other property please email or call me 510.282.5456 info@garrick.biz

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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Garrick - Thank you for sharing detailed quality information on home owner Bill Of Rights on foreclosed properties in California San Francisco Oakland Alameda.

Apr 24, 2012 06:02 AM #1
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