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Tag: bill

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Negative Amortization Loans to be banned in California
Posted On 10/13/2009 05:17:28 by grapevine
California Gov. Arnold Schwarzenegger this week signed California Assembly bill 260, which will have far reaching effects on banks in the future.
California Assembly bill 260 provides a ban on negative amortization loans in California.  California Assembly bill 260 takes effect January 1, 2010. 
http://www.sacbee.com/topstories/story/2249150.html... Read More

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Loan modification firms banned from demanding upfront fees
Posted On 10/13/2009 05:10:12 by grapevine
California Gov. Arnold Schwarzenegger this week signed Senate bill 94 which bans loan modification firms from demanding upfront fees this bill will expire on January 1, 2013.  This bill is effective immediately.
This law also requires that the loan modification inform the clients that they can obtain the same services FREE from Government approved Non Profit Mortgage Counselors.
http://www.sacbee.com/topstories/story/2249150.html... Read More

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