On Monday, July 2, 2012, the California legislature will likely vote on the remaining portions of the Homeowner Bill of Rights proposed by State Attorney General Kamala Harris.

“The bills protect homeowners in two ways:

–They ban so-called dual tracking, when mortgage loan servicers allow borrowers to open an application for loan modification to lower their payments while at the same time the foreclosure process is moving forward. Servicers would be required to provide homeowners with “a single point of contact” so they won’t suffer from bureaucratic runarounds.

–They give owner-occupier, first-mortgage holders a right to sue financial institutions, under limited conditions, if the lenders have willfully, intentionally or recklessly violated the law.”

Links: Los Angeles Times article    San Francisco Chronicle article