Debrief – California Home Owner Bill Of Rights
California has enacted a Bill to protect Home Owners from a variety of issues that have emerged from the Real Estate market collapse.
Mostly, the Act protects those of us (about a 1/3 of Californians) who are in an underwater situation. In the past, we have heard about people who realized that the bank had foreclosed on their homes while they were in the process of working on a loan modification. Others have become frustrated speaking with their banks for months and years attempting to work out a solution and never getting anywhere. This Act will not allow these types of situations to happen again by providing more accountability on behalf of the banks.
The Office of the Attorney General has a page dedicated to breaking this Act down. Click here to learn more about the Home Owner Bill Of Rights.
If you owe more than your home is worth, remember that the first step is to figure out what the lowest possible payment is. From there you can build your strategy. Get a complimentary Preapproval for a Refinance or Modification within 3 days by clicking here.