Urge Governor Schwarzenegger to sign SB1178 to protect homeowners from overreaching lenders. Years after default, collectors may still come after them - Sacramento Bee March 14,2010.
A loophole in California state law lets banks sue foreclosed borrowers for the difference between the mortgage and the property value just because the property has been refinanced.
California Association of Realtors has sponsored SB1178 to close this loophole, but big banks are fighting to continue to take advantage of homeowners.
Realtors: PLEASE EMAIL THE GOVERNOR IMMEDIATELY!! Have your friends, neighbors, clients, and family email too!
Stve Goddard- California Association of Realtors President - " Governor Schwarenegger knows the importance of real estate to California's economy. PLease email and ask him to sign SB1178 to enact reasonable borrower protections. Realtors must act to protect home ownership.
ATTENTION: Take 2 easy minutes and email TODAY!
1. Go to www.takeaction.realtoractioncenter.com/campaign/sb117
2. Enter your email address and name as directed
3. Make any changes you wish to the letter
4. Hit "SEND THIS MESSAGE" button on the right
We all need to work together to get this signed. This will impact many families, realtors.
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
And banks wonder why they have the reputation they do, how wrong can they be, this is ridiculous, i hope you get it done
Great post! Seller's need to be aware of what is going on. At least someone is trying to do something about it. Let's hope this gets passed.
Thanks. I was hoping to get more response to this. I hope everyone is sending an email to the Governor rather than commenting here?