California homeowners have the right to remain in their homes even after a foreclosure sale. California Statute protects you and you do not have to leave without court action. Even if you have received a Three Day Notice to Quit and/or served with a Summons and Complaint it is not too late to have the Law Offices of Michael J. Fox protect your rights
The law is specific and complicated in these areas but the attorneys at the Law Offices of Michael J. Fox are experts in eviction law. You will be provided expert and professional legal advice about the best way to proceed. We will evaluate all of the facts of your case and help you navigate the process that is ahead of you. We are strong and caring advocates dedicated to keeping you in your home.
California Homeowner Bill of Rights
On July 11, 2012, Governor Jerry Brown signed the California Homeowner Bill of Rights into law to bring fairness, accountability and transparency to the state’s mortgage and foreclosure process. The Homeowner Bill of Rights went into effect on January 1, 2013.
More than one million California homes were lost to foreclosure between 2008 and 2011—with an additional 700,000 currently in the foreclosure pipeline. Seven of the nation’s 10 hardest-hit cities by foreclosure rate in 2011 were in California.
Two key bills of the Homeowner Bill of Rights contain significant mortgage and foreclosure reforms. The major provisions of AB 278 (Eng/Feuer/Mitchell) and SB 900 (Leno/Corbett/DeSaulnier/Evans) include:
Dual track foreclosure ban: Mortgage servicers will be required to render a decision on a loan modification application before advancing the foreclosure process by filing a notice of default or notice of sale, or by conducting a trustee’s sale. The foreclosure process is essentially paused upon the completion of a loan modification application for the duration of the lender’s review of that application.
Single point of contact:
Mortgage servicers will be required to designate a “single point of contact” for borrowers who are potentially eligible for a federal or proprietary loan modification application. The single point of contact is an individual or team with knowledge of the borrower’s status and foreclosure prevention alternatives, access to decision makers, and the responsibility to coordinate the flow of documentation between borrower and mortgage servicer.
Enforceability:
Borrowers will have authority to seek redress of “material” violations of the California Homeowner Bill of Rights. Injunctive relief will be available prior to a foreclosure sale and recovery of damages will be available following a sale.
Verification of documents:
The recording and filing of multiple unverified documents will be subject to a civil penalty of up to $7,500 per loan in an action brought by a civil prosecutor. Enforcement will also be allowed under a violator’s licensing statute by the Department of Corporations, Department of Real Estate or Department of Financial Institution