BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA
* * * * * *
RESOLUTION IN SUPPORT OF SENATE BILL 1275 (LENO), MORTGAGES: FORECLOSURES
RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that
WHEREAS, delinquencies and foreclosures in California continue to increase and appear likely to increase into the foreseeable future; and
WHEREAS, housing counselors and homeowners report that they regularly face seemingly insurmountable obstacles when they contact loan servicers for assistance, including delays in the processing of applications, lost financial documents, repeated requests for documentation and even unnecessary foreclosures after an erroneous denial; and
WHEREAS, Senate Bill 1275 would extend the requirements of Senate Bill 1137 (Perata, Corbett, Machado), Chapter 69, Statutes of 2009 until January 2013, which established a number clear protections for homeowners facing foreclosure and seeks to improve the foreclosure process and help prevent unnecessary foreclosures by requiring an early notice to borrowers in default; and
WHEREAS, Senate Bill 1275 would extend the requirements of Senate Bill 1137 to owner-occupied residential real property containing no more than four dwelling units and recorded prior to January 2009; and
WHEREAS, Senate Bill 1275 would apply a different set of provisions to different types of mortgage loan servicers, including mortgage loan servicers who are required to review loans pursuant to the Home Affordable Modification Program and those who are not.
NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the Board of Supervisors by the adoption of this Resolution hereby supports Senate Bill 1275 (Leno) regarding mortgages and foreclosures.
* * * * * *