Report Dual Tracking in California!

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Californians remember the new California Homeowner Bill of Rights became law on January 1, 2013 and it has certain protections to prevent dual tracking for homeowners who have applied for a loan modification. The laws are designed to guarantee basic fairness and transparency for homeowners in the foreclosure process.

Key provisions include:



  • Restriction on dual track foreclosure: Mortgage servicers are restricted from advancing the foreclosure process if the homeowner is working on securing a loan modification. When a homeowner completes an application for a loan modification, the foreclosure process is essentially paused until the complete application has been fully reviewed.
  • Guaranteed single point of contact: Homeowners are guaranteed a single point of contact as they navigate the system and try to keep their homes – a person or team at the bank who knows the facts of their case, has their paperwork and can get them a decision about their application for a loan modification.
  • Enforceability: Borrowers will have authority to seek redress of “material” violations of the new foreclosure process protections. Injunctive relief will be available prior to a foreclosure sale and recovery of damages will be available following a sale. (AB 278, SB 900)
  • Tools to prosecute mortgage fraud: The statute of limitations to prosecute mortgage-related crimes is extended from one to three years, allowing the Attorney General’s office to investigate and prosecute complex mortgage fraud crimes. In addition, the Attorney General’s office can use a statewide grand jury to investigate and indict the perpetrators of financial crimes involving victims in multiple counties.
    (AB 1950, SB 1474)
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
FILE A COMPLAINT IF YOU FEEL YOU ARE BEING MISLEAD BY YOUR MORTGAGE SERVICER OR THEY ARE IN VIOLATION OF THE HOMEOWNER BILL OF RIGHTS!

Contact California Attorney General Kamala D. Harris to file a complaint against your servicer for violating the California Homeowner Bill of Rights!

File a complaint regarding your servicer
with the federal Consumer Financial Protection Bureau: https://help.consumerfinance.gov/app/mortgage/ask


File a complaint with the Federal Trade Commission.

Report a scam to the federal Financial Fraud Enforcement Task Force: StopFraud.gov - Report Fraud
 

UnderwaterWells

LoanSafe Member
Feb 12, 2013
1
0
0
Is dual tracking prohibited in FL? Atty Gen Pam Bondi's website on the DOJ settlement lists dual tracking as an offense to launch a complaint over. I am currently in the Wells grinder for a modification, all requested docs submitted and pending review. However, I am facing a foreclosure trial in two days. My attorney and Wells attorney filed a joint motion to continue, but the judge denied the joint motion so it looks like a sales date will be set soon even though we are actively engaged in mediation for a mod. My concern is that Wells won't act quickly enough in order for me to save the home. Do you have any hail-mary plays in the playbook on something like this?