• California Enacts “Homeowner’s Bill of Rights,” a Foreclosure Reform 2.0 Legislative Package (2012)
  • August 2, 2012 | Authors: Melissa L. Richards; Neil J. Rubenstein
  • Law Firm: Buchalter Nemer A Professional Corporation - San Francisco Office
  • On July 11, 2012, California Governor Jerry Brown signed into law the “Homeowner’s Bill of Rights,” AB 278/SB 900, marking the first U.S. state to adopt into law the residential mortgage foreclosure reform principles outlined in the February 2012 National Mortgage Servicing Settlement with the nation’s top five mortgage servicers. California Attorney General Kamala Harris, along with leadership in both the Senate and Assembly, sponsored the “Homeowner’s Bill of Rights.” AB 278/SB 900 takes effect January 1, 2013, making changes to nonjudicial foreclosure protocols for first lien residential mortgage loans (consumer purpose, owner-occupied dwellings only).