spdrun, I see nothing in the CA “Homeowner’s Bill of Rights” which precludes a lender from foreclosing timely 141-145 days after default (w/30 days added for phone contact to borrower to ascertain if they may be eligible for a mod).
There doesn’t appear to be any provision in it requiring lenders to offer any remedies at all to FC … it only requires them to ask their delinquent borrower questions to determine if they are eligible for a mod during the 30-day statutory “contact period” before a notice of default is filed.
This is assuming the left hand of the lender hasn’t already accepted an application for mod from the borrower and is attempting to process it.
Just like the employer who doesn’t want to hire a particular candidate for a job, a defaulted-upon lender can come up will all kinds of legally plausible reasons why their delinquent borrower is ineligible for a mod.
All it costs the lender is 30 more days added to the nonjudicial FC process (now extended 5 more years to 1/1/18).
Am I missing something here?
So, why again are these lenders still languishing and letting deadbeat home”owners” squat into oblivion in this supposedly “hot” market??
