ANTIOCH (KCBS)—Bay Area residents whose homes are headed for foreclosure may get legislative relief. A new bill authored by State Senator Mark DeSaulnier would, according to supporters, greatly simplify the process for homeowners.
“They’ll get one single person to talk to – basically a case worker. They’ll be able to be guided through all the various options,” DeSaulnier said.
KCBS’ Dave Padilla Reports:
In an effort to cut through some of the red tape, when paperwork is submitted, people filing for foreclosures will be notified that it’s been accepted, so they won’t have to worry about getting the runaround from banks.
Jose Vega said for two-and-a-half years he tried to refinance his home while the bank was simultaneously working to foreclose on his property.
“You can’t sleep, you can’t eat. The toll that it takes on families, I found, is a form of emotional torture,” Vega said.
Vega said he kept getting the run around from the bank.
Another homeowner who was in foreclosure, Loretta Carter, said she was bounced from one bank service rep to another and never got any really help until DeSaulnier’s office got involved.
“It’s really good. I think it’s a start and I think it’s going to be really helpful for the homeowners,” she said in support of the bill.
SB 14-71 is part of the California Homeowners Bill of Rights, which consists of six bills that are designed to guarantee basic standards of fairness in the mortgage process.
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