In case you haven’t heard, plenty of new real estate laws are taking effect in 2013. One of these is the California Homeowner Bill of Rights, which aims to avoid foreclosure to help stabilize California’s shaky market. If things go according to plan, this will help diminish the negative effects of foreclosures on California families, communities, and overall economy.
This Bill of Rights will provide borrowers with more safeguards during the foreclosure process, and will give them the right to sue lenders for any violations. It also generally prohibits lenders from engaging in dual tracking, and requires a single point of contact for borrowers seeking foreclosure prevention alternatives. To learn more about this new bill of rights and how it can affect you, visit www.car.org.