Homeowner Survivor Bill of Rights, SB 1150 Moves Forward!

Last week, the California Senate Banking and Financial Institutions Committee held a hearing on the Homeowner Survivor Bill of Rights, (Senate Bill 1150).  You can hear more about the hearing in this KQED story: Surviving Spouses Can Have Their Homes Foreclosed on if They Aren’t Listed on the Mortgage

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The hearing was packed full of representatives from organizations that are supporting SB 1150.

At the hearing, Ric Hornor, a widower from Eldorado County, shared his experience of trying to navigate keeping his home after the death of his wife.  He explained that the bank repeatedly called, asking to speak with her, that it declined a modification because she hadn’t posthumously signed it, and more.  Another person spoke about a surviving homeowner having to send in their deceased spouse’s death certificate twenty five times to the bank.

Senator Ben Hueso commented at one point (we’re paraphrasing) that it was unfortunate the CA Chamber labeled the bill a jobs killer. He explained that he felt it was also killing productivity when homeowners who are small business owner are stuck spending hours on the phone trying to navigate these situations with their mortgage servicers.

When the hearing concluded, it was ultimately voted forward to the Senate Judiciary Committee.  If your organization would like to become more involved in supporting SB 1150, please contact CRC! Our phone number is: Four One Five, 864-3980.  Or, you can contact us here.

 

 

 

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