California Attorney General Kamala D. Harris has presented the draft of a ‘California Homeowner Bill of Rights’ that covers the origination and foreclosure process.
At a press conference yesterday in Sacramento, Harris announced her sponsorship of six bills that, combined, would create this new bill of rights. The new legislation addresses ‘basic standards of fairness in the mortgage process’; increased transparency, including a single point of contact for homeowners; solutions to solve the problem of neighborhood blight created by vacant foreclosed homes; new tenant protections following foreclosures; ‘enhanced law enforcement to defend homeowner rights’ that will be paid via new fees imposed on California's banks; and the creation of a special grand jury to investigate financial and foreclosure crime.
‘California communities and families are being devastated by the mortgage and foreclosure crisis,’ says Harris. ‘We must ensure the deceptive practices that caused it never happen again. The California Homeowner Bill of Rights will provide basic fairness and transparency for homeowners, and improve the mortgage process for everyone.’