California; 07, April 2015: For years the mortgage and housing markets have been in distress, and during these times lenders seized nearly one million California houses. In 2013, Governor Jerry Brown passed SB 900 to help borrowers facing foreclosure to stay in their homes.
The Homeowners Bill of Rights [SB 900] provides significant legal protection for struggling homeowners who are facing foreclosure. The law provides common-sense reforms that require all banks in California to treat borrowers more fairly while bringing more accountability and transparency into their lending practices. With this law, foreclosure attorneys have a much better chance of defending homes from foreclosure.
In California, SB 900 has given homeowners some of the strongest foreclosure protection in the nation. The law protects homeowners against aggressive bank practices such as starting the foreclose process without first talking to the borrower to offer assistance. Under SB 900, it is illegal for a lender to foreclose on a borrower while they are in negotiations or applying for a loan modification to lower mortgage payments.
Many lenders break the law in California by offering to help a borrower to modify their loan while moving forward with the foreclosure process. This common practice is called dual tracking. Many lenders prefer the dual-tracking route because it enables them to more quickly foreclose on a property if the process of a short sale, forbearance, deed-in-lieu, or loan modification is taking too long. This practice caused many honest and hard-working homeowners to end up being evicted in spite of the fact they were working as hard as they could with the bank to get their loans modified.
California was the first state to prohibit lenders from engaging in dual tracking. The foreclosure lawyers at Consumer Action Law Group often sue lenders for wrongful foreclosure and illegal practices when lenders violate SB 900. Homeowners are encouraged to call and talk to a foreclosure attorney at Consumer Action Law Group for free advice on stopping wrongful foreclosure. Consumer Action Law Group foreclosure lawyers are dedicated to helping homeowners whose goal is avoiding foreclosure and saving their home.
In California, SB 900 was created to simplify the dealings between banks and homeowners. It achieves this by requiring that clients are given one single representative to help them work on their situation, which helps to avoid bureaucratic runarounds. It also allows state agencies as well as private citizens to sue these financial institutions when they break the law. The foreclosure lawyers at Consumer Action Law Group can obtain economic compensation along with additional civil damages reaching as high as $50,000 from any lenders who intentionally, recklessly, or willfully violate the law.
In most cases, mistakes and problems are caused by the bureaucracy of the lender and they are not always intentional. Delays are common, along with their ever-changing policies and highs staff turnover. It is usually the lenders who make mistakes that hurt borrowers: losing paperwork, losing mortgage payments, not applying payments to the right loan, and not having their departments communicate internally. Those situations commonly cause them to fail in helping borrowers or approving a foreclosure alternative.
That’s where an experienced foreclosure attorney can make a difference. Seeking help from the foreclosure attorneys at Consumer Action Law Group is the best way for homeowners to get the best foreclosure defense against wrongful foreclosure. Their foreclosure lawyers have stopped foreclosures in less than 10 minutes on the first call. Save your home today by calling Consumer Action Law Group at (818) 254-8413.
About Consumer Action Law Group:
Consumer Action Law Group is a law firm dedicated to help consumers in consumer-related matters or consumers that experienced fraud and scam. Attorneys in the team are knowledgeable and experienced in the areas of eliminating debt, mortgages fraud, auto fraud, and home under foreclosures. They have high experience in consumer fraud matters to defense consumers who are facing financial matters, foreclosure, and fraud.