Attorney General’s CALL TO ACTION to bring mortgage fairness to California
Posted by Melanie Nathan, April 16, 2012
Earlier this year in Sacramento, Attorney General Kamala Harris introduced the California Homeowner Bill of Rights, which will bring fairness and transparency to mortgages in our state.
Now your help is needed if the legislation is to pass, as it faces its first key votes in the state capitol this week, and powerful special interest groups exploiting mortgage loopholes are bound to muster their opposition.
In order to help move the Homeowner Bill of Rights forward, legislators need to hear from you NOW.
Please contact the Assembly Banking Committee in Sacramento today to urge them to support the Homeowner Bill of Rights.
From the Attorney General, who is seeking your urgent support:-
“In February, we extracted an $18 billion commitment from the banks for California — a life preserver for underwater homeowners. Now, looking ahead, we must fundamentally reform our broken mortgage system.
We have all seen the results of a system that is stacked against the average homeowner. From Stockton to Boyle Heights, from San Bernardino to Sacramento, our families and communities are suffering from the foreclosure crisis.
We need a mass movement to close these loopholes, revive our communities, and fix this problem.”
The Homeowner Bill of Rights includes restrictions to stop so-called “dual tracking”, the process where homeowners seeking a loan modification from their bank get foreclosed upon anyway. The bill also requires lenders to stop giving homeowners the runaround by offering a single point of contact, and it imposes fines of up to $10,000 for “robo-signing”, one of the reckless processes that had the biggest consequences for our economy.
This work won’t be easy, but it will benefit Californians throughout the state. Please raise your voice today.
Will you contact the members of the Assembly Banking Committee in Sacramento today to urge them to support the Homeowner Bill of Rights?
Kamala D. Harris
Attorney General of California”