Assemblymember Mike Feuer: Homeowner Bill of Rights to Help Protect California Communities Burdened with Home Foreclosures
SACRAMENTO – In this Democratic weekly radio address, Assemblymember Mike Feuer (D-Los Angeles) discusses the Homeowner Bill of Rights, a legislative package recently announced by Attorney General Kamala Harris, Assembly Speaker John A. Pérez (D-Los Angeles) and Senate President pro Tempore Darrell Steinberg (D-Sacramento), which targets the unfair practices performed by banks and lenders that spurred the home foreclosure crisis in California. Feuer, an author of a bill in the package, stresses the importance for those in state government to help tackle the home foreclosure crisis that continues to devastate Californians and hinders the state’s economic recovery. Other authors include Assemblymembers Holly Mitchell (D-Los Angeles), Wilmer Amina Carter (D-Rialto), Nancy Skinner (D-Berkeley) and Mike Davis (D-Los Angeles).
This week’s English address is 2:21.
Here’s the audio link:
Website of Assemblymember Mike Feuer: http://asmdc.org/members/a42/
Hi, I’m Assembly Member Mike Feuer from Los Angeles.
This week, I joined Attorney General Kamala Harris, Assembly Speaker John A. Pérez, Senate President pro Tempore Darrell Steinberg and other legislators to announce a package of legislation to address the ongoing foreclosure crisis.
This package, named the Homeowner’s Bill of Rights, will protect homeowners from unfair practices by banks and other lenders and help consumers and communities cope with the burdens that foreclosures create.
Along with Assembly Member Mike Eng, I’ve introduced AB 1602, a bill that would prohibit a practice called “dual tracking,” where a bank forecloses and evicts a homeowner who is in the process of seeking a loan modification.
I’ve also introduced other legislation to alleviate foreclosure-related problems that devastate neighborhoods.
AB 1599, which I’m jointly authoring with Assembly Member Paul Fong, would require that banks translate foreclosure documents if the borrower doesn’t speak English.
AB 1603, which I’m jointly authoring with Assembly Member Eng, would restrict the imposition of force placed insurance by mortgage loan servicers. Currently, loan servicers can require this insurance for properties – sometimes from their companies’ subsidiaries at an inflated price--and add it to the mortgage bill.
I’ll also be introducing legislation to combat neighborhood blight caused by foreclosed homes, which drives down nearby property values and increases criminal activity. This bill would allow the owner of a residential property to require that neighboring, vacant foreclosed residential property be maintained.
We in state government must take strong steps to tackle a foreclosure crisis that continues to devastate families and neighborhoods throughout California, and hinders our economic recovery. The Homeowner’s Bill of Rights, and my other bills to combat foreclosure problems, will address the needs of California homeowners who desperately need our help.
This is Assembly Member Mike Feuer from Los Angeles. Thanks for listening.