An Express Article from the California Land Title Association
Bulletin 11/12-81 - March 1, 2012
Attorney General Kamala D. Harris joined with Senate President pro Tem Darrell Steinberg and Assembly Speaker John A. Pérez to announce the California Homeowner Bill of Rights. The CLTA is undertaking a comprehensive review of the proposal. The six bill legislative package addresses loan modification and foreclosure practices, including requiring creditors to provide documentation to a borrower establishing the creditor's right to foreclose before recording a notice of default. The package also requires documentary evidence of ownership, the chain of title to real property, and the right to foreclose, at the time of the filing of a notice of default. Under the legislation there would be a single point of contact for homeowners, tenant protections after foreclosure and a special grand jury to investigate financial and foreclosure crime.
California Homeowner Bill of Rights Legislative Package:
Assembly Bill 1602 / Senate Bill 1470 – The Foreclosure Reduction Act of 2012
Authors: AB 1602 – Assemblymen Mike Eng and Mike Feuer; SB 1470 – Senators Mark Leno, Fran Pavley, and Senate President pro Tem Darrell Steinberg
Assembly Bill 1950 – Enhancement of Attorney General Enforcement
Author: Assemblyman Mike Davis