Thursday, April 19, 2012

California Homeowner Bill of Rights Passes Out of Committees

California Attorney General Kamala Harris announced Tuesday that seven bills in her California Homeowner Bill of Rights passed out of legislative committees.

Harris, who first introduced the bills in February, is pushing for permanent reform in her state since the $25 billion national mortgage settlement expands the course of three years.

Harris first introduced the bills in February. AB 2314 and SB 1472, which aim to fight neighborhood blight and increase fines against owners of blighted properties from $1,000 per day to $5,000, passed the assembly and senate judiciary committees.

AB 2610 and SB 1473 would provide protection for tenants and require buyers of foreclosed homes to honor terms of existing leases and give tenants 90 days before evicting them. The bills passed the assembly and senate judiciary committees on a 7 to 3 and 3 to 2 vote, respectively.

AB 1950 will levy a $25 each time servicers record a notice of default. The funds would go toward a real estate fraud prosecution trust fund to prosecute mortgage-related crimes. The bill passed the Assembly Public Safety committee on a 4 to 2 vote.

AB 1763 and SB 1474 will create a special grand jury to investigate and indict criminals in multiple jurisdictions. The bills passed out of their houses’ public safety committees unanimously.



By: Esther Cho

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