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New Homeowner Protections




A new Homeowner Bill of Rights, signed by Gov. Jerry Brown, went into effect on January 1, 2013.  The new set of laws protects consumers who are going through the foreclosure process.  It includes stopping lenders from doing what is called dual tracking, robo signing and makes sure lenders assign one point of contact to borrowers who are trying to obtain a loan modification.

Duel tracking is the process of starting the foreclosure process while the lender is considering and or reviewing a loan modification request.  We have talked to many homeowners who have applied for a loan modification and when it is declined or rejected they immediately get a Notice of Default which is the first step in the foreclosure process.  The lender has been working on the foreclosure during the time the loan modification was under review and they are prepared to foreclose if the loan modification is declined. 

Under the new law, banks must give loan-modification applicants a response before starting the foreclosure process.  Banks now also have to inform consumers who don't apply for a loan modification that they have the right to do so.

Robo signing, is defined as the process of approving foreclosure documents without proper review and will now be illegal in California.

Included in the Homeowner Bill of Rights is the ability for borrowers to sue loan servicers for violating any foreclosure law.

Speaking of new laws, last week I wrote about the extension of the Mortgage Debt Forgiveness Relief Act being extended.  I failed to mention the State of California has not yet passed legislation to make State taxation rules mirror Federal law.  The bill to do this in now being worked on and is expected to pass but at this time there would be state taxes due on forgiven mortgage debt associated with a short sale.

If you have any questions about the Homeowner Bill of Rights or short sales please let me know.  I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by email to JulieJ@Jalone.com.



About Realtor Julie Jalone


Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento


Placer County News Headlines

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Sacramento Area Council of Governments UpdatesThe Sacramento Area Council of Governments (SACOG) is pleased to announce Christina Lokke as its new Policy Manager and the promotion of Erik Johnson to Director

Spookomotive Trains to Treat Old Sacramento VisitorsSACRAMENTO, Calif. -- Back by popular demand, California State Parks and the California State Railroad Museum & Foundation will once again offer engaging and entertaining "Spookomotive"

Disney's Beauty and the Beast set for Harris CenterEl Dorado Musical Theatre is proud to present Disney's Beauty and the Beast which will run October 27 - November 5, 2017 at the Harris Center

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Placer County Air Quality Advisory Due to WildfiresThe Placer County Public Health Officer and Placer County Air Pollution Control Officer issued a joint air quality advisory to notify the public of the potential of poor air quality conditions

Children's Hope Charity Golf Tournament in RosevilleRoseville, CA - Children's Hope Foster Family Agency will hold it's First Annual Putting for Foster Kids Golf Tournament in Roseville on October 21, 2017 at Woodcreek Golf Club.

Roseville Incentives Hope to Lure Amazon HeadquartersRoseville, CA - Roseville is making a pitch to bring a second Amazon headquarters and its 50,000 jobs here.


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