Bill SB 1178 Passes Senate-Realtors Tell Your CLients-This is Great News


SB1178 was just approved by the Senate, over Lender opposition, with a vote of 30 to 4. C.A.R. is sponsoring SB1178 to extend anti-deficiency protections to homeowners who have refinanced “purchase money” loans and are now facing foreclosure. Most homeowners didn’t even know that when they refinanced they lost their legal protections, and now may be personally liable for the difference between the value of the foreclosed property and the amount owed to the Lender.

Check out the details on the C.AR. website.

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