Every home owner has the right to protect his / her property from odds like foreclosures etc in legal permissible manner. The new and improved California homeowner bill of rights is reflective of the dedication of the nation towards exposing homeowners to fair lending and borrowing practices. For those are yet to understand the crucial aspects of this improved bill rights, here are 4 core features that are assured to boost the confidence of any residential property owner by leaps...

Protection from robo signing – This used to be very common before amendments to the bill of rights for home owners came into effect. This is basically a situation where representatives of the lenders sign the foreclosure forms without actually reviewing them or verifying if the mentioned details are valid, true or applicable in the first place. This can lead to massive issues in the part of the homeowner and may also push the latter into deeper financial discomfort. California Homeowner Bill of Rights specifies very actions against lenders that resort to robo signing. To learn more about drafting a bill of sale online, visit this website.

Dual tracking prohibition – There are innumerable occasions when home owners may request a loan modification from the lenders that can enable the former to pay off their debts comfortably than go for foreclosures. While this is a legal process, there are many lenders that go right ahead with the foreclosures for their own benefit completely ignoring the modification request that may currently be pending in their office. The California Homeowner Bill of Rights prohibits dual tracking and penalizes lenders severely for resorting to such actions.

Single point of contact in favour of homeowners – This is yet another advantage that the amendment has granted to homeowners in general. Here, lenders are duty bound to offer a single point of communication to the homeowners so that they don’t have to repeat their issues over and over again when the call the lenders’ office for matters like modification or alternative solutions to the issue. The point of contact should be an individual or team that is directly related with the lender and is abreast with the issue the homeowner has been experiencing.

Right to sue – California Homeowner Bill of Rights allows homeowners to sue lenders that do not respect these stipulations, especially if negligence of the latter has caused unnecessary financial damages or loss in the part of the homeowners that could otherwise have been prevented.

Please visit this site to ​​get a sample bill of sale in California.