Great news! Senate Bill 1150, the Homeowner Survivor Bill of Rights (SBOR), was signed into law on September 29, 2016. The law will take effect in January, 2017.
SBOR will address egregious behavior by banks and mortgage servicers who have refused to speak with surviving homeowners about their family homes and option to retain them.
If you are a surviving homeowner who is hitting a brick wall when trying to speak with your mortgage servicer, please contact us so we can connect you to resources.
To learn more about SB1150, you can read this Los Angeles Times article:
California Gov. Jerry Brown on Thursday signed a bill that’s designed to give widows and widowers a better shot at saving their homes when they fall behind on mortgage payments. Senate Bill 1150 boosts protections against foreclosure for surviving spouses who own their home but are not on its mortgage note.
Read the rest of the article here: California Gov. Jerry Brown signs a bill that boosts protection for surviving spouses against foreclosure (Andrew Khouri, Sept. 29, 2016)