Yesterday, Governor Jerry Brown signed landmark legislation that ends the practice of foreclosing on a home while a loan modification is being considered (“dual track”), reforms bank’s foreclosure practices, and creates a fairer foreclosure process for California’s homeowners. And, importantly, the legislation allows consumers to take banks to court to enforce these rights. This is a major victory for California! The Governor’s signature came after the California State Assembly and Senate both voted last week to pass these bills. None of this would have happened without the tireless work of many California groups—nonprofit housing counselors, public interest lawyers, faith-based groups, organizers, online organizing groups, and consumer and policy groups.
Thank you to all who supported our advocacy efforts!