SB94 - California

Diplomatic Immunity said

Just forget all about Negotiating Start Fighting back with the Banks and hit them HARD!!! How""" Just file an Negative averment, Watch what happens include in that negative averment a R.P.O.AThese are powerful tools, Watch them squirm!!!

Shut-up said

The lender lobbyists win again and the homeowners lose again, I am not surprised just very disappointed. So government is not run by the lobbyists, SHUT-UP!

Peter the Great said

Another brain dead law by democrats without thinking through of the consequences. Not thinking about the unintended (or intended) consequences. Truly remarkable! Should have AG controlled escrow account to handle the fees so that once loan mod is completed, the fee would be actually available for consultant or attorney. AG is again government entity, and I realize that there is a trust issue!

P. Atriot said

Awesome, no more attorneys to worry about. I think I'll open a bank and sell a bunch of sub-prime loans to people who can't afford them. Then I'll sell those loans to foreign investors and make a killing without any consequences. Who's going to sue me now" Even if I do get in trouble I can just finance a bill to get me off the hook. Hell, I'll sell everyone's house to foreign banks.

Read your history books!

anonymous said

This bill only helps protect the banking industry from greater loss of their paper gains, by assuring they deal primarily with inexperienced borrowers, instead of industry savvy, trained professional negotiators, who would cut deeper into the loan.
Way to go Governor and DRE!

NICHOLAS said

forgive my ignorance...i want to know ...did the SB94 passed"""is it a law now"""if it is when will it come into effect..."""thks

javier said

Listen this is the result of those bad apples taking advantage of the average Joe homeowner that doesnt know better and forks out $3K-$10K from those unethical attorneys or rescue relief scam artists ..that promises these homeowners that they will SAVE thier homes or that they have years negotiating with banks or better yet they have an inside confidential contact PLEASE give me a break!!!, so lets NOY complaint.... it is what it is!!

RRR said

SEN CALDERON, YOU PROBABLY DO NOT A MORTGAGE PAYMENT AND ALSO NO FAMILY FOR YOU TO SPONSOR SUCH BILL AND SO AS THOSE WHO VOTED YES TO THE BILL. PASSING IT MEANS MORE FORECLOSURE TO HOME OWNERS, THE STATE OF CALIFORNIA WILL DETORIATE AND LEAVES FAMILIES IN THE STREET. THE BANK WANTS TO FORECLOSE BECAUSE THE BUYER IS ALSO THEIR INVESTOR WHICH WILL TURN AROUND AND RESALE THE PROPERTY FOR A BIG PROFIT, BESIDES GETTING MONEY FROM THE GOVERNMENT FOR A BAD LOAN. HAVE A HEART TO OUR CALIIFORNIA FAMILIES. THE SCAMMER WILL ALWAYS BE AROUND.

anonymous said

The legislature should look at the banks and lenders who make loan modification unecessarily difficult and time consuming. I believe that the reason this industry is a mess is that the banks make it so dificult and time consuming that the loan mod companies simply wilt under the time demands. Take a look at the video of US Representative Waters on UTube trying to help a constituant get a loan mod and you will have an idea of what the companies go through every day. Homeowners that want to do this on their own need to be able to sit on hold for extended periods of time and call again and again and again. They should be able to hire legal counsel if they want to. This bill makes that impossible because no attorney who values his own finances is going to represent a homeowner in financial distress for a fee he will never receive when the work is completed. California homeowners I can only wish you good luck. You are now on your own.

Calderon Kssmiass said

You can be damn sure i will be penning something and posting it to the Chronicle/Examiner - a kind of invitation to other attorneys to seek a shutdown of this ridiculously lender-driven legislation. I just do no think attorneys REALLY understand that this legislation is on the cusp of passing. A democrat wrote it, and CA is democratically controlled.

Calderon Kssmiass said

You can be damn sure i will be penning something and posting it to the Chronicle/Examiner - a kind of invitation to other attorneys to seek a shutdown of this ridiculously lender-driven legislation. I just do no think attorneys REALLY understand that this legislation is on the cusp of passing. A democrat wrote it, and CA is democratically controlled.

anonymous said

Let's get this straight - under this bill, I can't hire an attorney to object to being lied to, mislead, and mistreated by my mortgage lender - who is hiring collectors to contact me about my missed payment (we all know how reputable and caring collectors are). Luckily the lender can't charge me for the loan modification either, thanks for that. No attorney is going to take a case like this on contingency, where there's a lot of expenses and no guarantee of anything accomplished through litigation. I honestly hope the ACLU or some other agency will at least sue for a citizen's right to hire a competent attorney to negotiate or sue a lender to address legal issues in a mortgage if this passes. I cannot support a bill that almost completely eliminates any choice I have in defending my rights. And I don't qualify for "non-profit" help, nor do I think agencies such as ACORN can handle the volume of individual issues that are pending and that this will create.

Mardza said

I cannot believe the depths of stupidity on behalf of these lawmakers. No attorney in his/her right mind is going to wait around for 4 - 6 months to get a loan mod done for a client who is down on their luck, and then expect them to pay them at the end of the loan mod process. Way to go legislators - it's good that you have the unconscionable lenders in mind, and not the borrowers. I hope each and every one of of the legislators who supports this bill becomes jobless and become at risk of losing your home - that would be the best irony of all.

anonymous said

Just another case of banker's interests trumping the consumer's. Speaking as a honest operator in the Modification industry, I can say the number of foreclosures is going to continue to esculate. I encourage each and everyone of my clients to attmept to do this themselves prior to entering into an agreement with me. They ALL come back with the same story. Same politics....different day.

anonymous said

Another victory for the lenders! Once again the state legislature gets it wrong.

KennyG. said

If this bill passes whats next for people who need legal assistance. Any time you you hire an attorney their are always a charge up front for services. Know on a real note I have tried to go through this process by my self and for a fact this avenue will not work I have been trying for over a year....... The banks will do nothing to clean up their mess. As far as nonprofits most of the people who work at these places don't have a clue what they are doing. So where does that leave the average person... We are still at the mercy of the big banks with their billions in bail out money . this bill will do nothing but help the big banks shoot this bill down

anonymous said

Absolutely not written with California home-owner in mind. It was written to protect revenue for the State of California by keeping California home-owners ignorant about exit strategies that are available to them. It is written to keep the California home-owner in an albatros.

anonymous said

9 months is way too long. That is one reason the bill has passed. Most of our files are completed within 120 days. Your right though, this will hurt the people

anonymous said

Senator Calderon, you should be ashamed of yourself. I work for a law firm that assists borrowers - all of whom have already tried to get a modification on their own, but failed. If you take away the ability of firms like ours to help borrowers, there will be many thousands of unnecessary foreclosures, because I guarantee that no law firm is going to wait and hope for payment at the end of the nine month period it usually takes to get a modification.