Jun 11 2012
Assemblyman Mike Davis Urges Passage of Homeowners’ Bill of Rights
California led the nation in foreclosures between April 2011 and April 2012 according to CoreLogic, which counts foreclosures on a monthly and yearly basis, nationally and state by state. Over that 12 month period CoreLogic found there were 142,000 completed foreclosures in California, a significantly higher number than Florida which had the second highest number of foreclosures, at 90,000. Among the states with the lowest foreclosure rates in the 12 months ending in April is Hawaii, in which only 601 foreclosures were completed, followed closely by West Virginia which tallied 598. The numbers substantiate complaints by housing advocates that it is too easy for lenders to foreclose on Californian homeowners. California is a non-judicial foreclosure state, meaning a judge does not sign off on the foreclosure process, and there is little penalty for breaking the law, including for so-called robo-signing and for evicting homeowners before a loan modification is denied.
In response to the epidemic of mishandled foreclosures, state attorney general Kamala Harris and a handful of state assembly members have introduced a package of legislation they are calling The Homeowner’s Bill of Rights. Taken together, the bills under consideration would increase penalties on illegal foreclosure practices by lenders, decrease the complications homeowners face in trying to save their homes, and give the state more power to prosecute lenders. Two pieces of legislation made it out of the assembly a week ago, AB 1602 and AB 1950, both authored by Assemblyman Mike Davis, representing the 48th district which includes a large portion of south central Los Angeles. At least 6 additional bills authored by various state legislators and reviewed by the state attorney general are being considered in a special joint conference committee. After weeks of labor, the remaining components of Homeowners Bill of Rights could make it out of committee and come up for a floor vote within the week.
GUEST: Assemblyman Mike Davis, he represents California District 48 and he is the Vice Chair of the California Legislative Black Caucus
The California Legislative Black Caucus will be holding a Town Hall on the Homeowners Bill of Rights hosted by Mike Davis on Thursday June 21 at 6pm at the California African American Museum at 600 State Drive in Los Angeles.
For more information or to RSVP contact: Tresa McCoy, (213) 744-2111 or visit http://blackcaucus.legislature.ca.gov.
One Response to “Assemblyman Mike Davis Urges Passage of Homeowners’ Bill of Rights”
The robo-signing issues are real and the fabricated and robo-signed assignments as well as fraudulent originations all real stuff that I am personally dealing with as I write this.Wells fargo will stop at nothing with the help of there henchman US Bank to take home even when solid proof of many levels of fraud in the inception are put in front of them in black and white.There brazen disregard for the land laws that have been in effect for hundreds of years,and there willingness to commit fraud on the courts and on the county recorders is disgraceful.I do not know of one person who has been able to modify there loan or has had any positive help with regard to the so-called settlement.I guess anyone who was unlucky enough to have refinanced there home between 2004-2007 just has to deal with it on a case by case,state by state basis.I am willing to share all fraudulent documents with any and all if requested.