Gov. Brown signs Homeowner Bill of Rights
LOS ANGELES (KABC) -- Gov. Jerry Brown is making it easier for homeowners in trouble to keep their homes. He signed the so-called California Homeowner Bill of Rights.
The new law bans "dual tracking" so that banks can't foreclose on your home while you're pursuing a loan modification.
The law also increases penalties for "robo-signing," which is automatic approval for a foreclosure without reading documents. Homeowners can also sue for significant violations.
There are nearly a million foreclosed homes in the state, and another 700,000 are at risk. California is the first state to adopt such a law.
housing market, california news
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