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AB 244: New Legislation Would Clarify That Homeowner Bill of Rights Protects Widows Too

If you read this blog post and live in California contact your assembly member and ask them to support AB-244 as this will provide important protections to widows and other heirs that may be facing foreclosure proceedings because they are not listed on title to the home.

California Reinvestment Coalition

AB 244 to Protect Widowed Homeowners

The California Homeowner Bill of Rights (HBOR), a law widely credited with evening the playing field between homeowners and their mortgage servicers in California, has also been duplicated by Nevada and Minnesota.

A bill introduced earlier this month by Assemblymember Susan Talamantes Eggman, AB 244, would clarify that the protections in HBOR also extend to widows and other surviving family members who are struggling to work with their mortgage servicers.

This clarification is important not only because of communication problems that widowed homeowners are facing when trying to contact their mortgage servicer, but also because some widows and widowers may have a reduction in their income when their spouse passes away. In these cases, they may need to both assume the loan and to seek a loan modification.

Currently, these homeowners can find themselves caught in a “Catch 22” if they seek a loan modification. Servicers inform them that they can’t…

View original post 423 more words

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