New Protections For Widowed Homeowners and Other Heirs in California

sb-1150-4-points

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)

 

Widow Shares Her Story About Why She’s Supporting SB 1150

Senate Bill 1150 (Leno-Galgiani) is legislation that was introduced to address what has been called the “bureaucratic black hole” that widows, widowers, and other heirs are facing when trying to contact their mortgage servicers after the death of a loved one who was the only person listed on a mortgage.

Jimi “Angie” Depew is a homeowner in Eureka, California who experienced this problem first hand with her mortgage servicer, Citi.

After nearly two years of working to keep her home (along with assistance from an attorney at Legal Services of Northern California), she remarked in a letter to Senator Leno:

“While I am relieved that this ordeal is now over and I am no longer at risk of losing my home, I cannot begin to explain the level of confusion, frustration and stress I felt over the nearly two years I was attempting to work with Citi. I have no doubt that without the help of an attorney I would not have made it through this very difficult process and I would have lost my home in foreclosure.”

You can read her full letter to Senator Leno here.

If you’d like to get in touch with CRC about Senate Bill 1150, please visit our “Contact Us” page.