California Reinvestment Coalition

Hi all,

Andrea Luquetta of the California Reinvestment Coalition is looking for stories in support of SB426 (Corbett), a bill that CRC and HERA are sponsoring. Specifically, please contact Andrea of CRC if you have clients who fit into one or more of the categories:

They are are looking for homeowners who lost a home in foreclosure and then had one or more of the following things happen:

* The lender that foreclosed tried to collect from them the difference between the total amount owed and the amount the lender recovered in the foreclosure sale (sometimes called “the deficiency”); and/or

* The lender that foreclosed continued to report the loan as late on the borrower’s credit report even after foreclosure; and/or

* After a foreclosure by one lender, the lender on a different loan on the same property (for example, a home equity line of credit or another second lien) tried to collect from the borrower even though that loan had been used to purchase the house originally; and/or

* After a foreclosure by one lender, the lender on a different loan (for example, a home equity line of credit or another second lien) continued to report the loan as late on the borrower’s credit report even though that non-foreclosing loan had been used to purchase the house originally.

If you have any such clients, or have questions, please contact Andrea:

Andrea Luquetta, Esq.
Policy Advocate
California Reinvestment Coalition
474 Valencia St. Suite 203
San Francisco, CA 94103
415.864.3980

aluquetta@calreinvest.org

Thanks,
Christian Cooper
Public Counsel

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