There has been a lot in the news about the California Homeowner Bill of Rights which was signed into law this week. A few facts about this law, which was created to help struggling homeowners in the state of California: 1. This law prevents a lender from dual tracking a home mortgage - which means a lender cannot simultaneously have a home in the foreclosure process while at the same time working on a loan modification. 2. Homeowners must be provided with a single point of contact when negotiating a loan modicfication. 3. The bill expands notice requirements that must be provided to a borrower before taking action on a loan modification application or pursuing foreclosure. Additional information on this new law can be found at www.dsnews.com The new law is effective January 1, 2013. If you or anyone you know if not eligible for a loan modification, but want to prevent the negative credit effects of foreclosure, a short sale may be the best choice. Contact me today of you are interested in learning more about the process. Best - Stacy