Hayward, CA (PRWEB) July 23, 2012

As the chair of the Assembly Business, Professions and Consumer Protection Committee, Assemblymember Mary Hayashi (D-Hayward) applauded the passage of the California Homeowner Bill of Rights, which was signed earlier this month by the Governor. She is encouraging Californians to learn about this law and other state and federal sources developed to shield home owners and consumer finances.

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The Homeowner Bill of Rights is a landmark bill that gives Californians the strongest foreclosure protections in the country, stated Assemblymember Mary Hayashi. Its portion of an critical national effort to spot shoppers very first, and its crucial that we let the public know that these sources exist to assist them save their homes and their financial safety. New federal agencies like the Customer Financial Protection Bureau are working to address numerous concerns, from credit and lending to mortgages and elder economic abuse, and theyre going to make a tremendous distinction for buyers.

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The California Attorney Generals office reports that much more than one million properties were lost to foreclosure between 2008 and 2011, and one more 700,000 are undergoing the foreclosure procedure. The California Homeowner Bill of Rights is a extensive bill package developed to bring fairness and transparency to the mortgage and foreclosure process, and support save California properties. It consists of provisions that prohibit unfair bank practices and assistance loan modifications over foreclosure. The law will go into effect on January 1, 2013.

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Last week, Assemblymember Mary Hayashi was element of a California State Assembly delegation that went to Washington, DC to advocate for much more sources for California. The delegation met with the Consumer Monetary Protection Bureau, which was developed to regulate customer monetary goods and services in compliance with federal law. They discussed the Homeowner Bill of Rights and other mortgage protection methods. Just recently, the Bureau made headlines with its crackdown on Capital One particular, ordering the corporation to refund $ 140 to $ 2 million to clients for its unfair marketing and advertising practices of fee-primarily based solutions.

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To read a lot more about the California Homeowner Bill of Rights, please check out the California Workplace of the Attorney Basic internet site at http://oag.ca.gov/hbor.

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To find out far more about the Consumer Monetary Protection Bureau, please check out their internet site at http://www.consumerfinance.gov.

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Assemblymember Mary Hayashi is the Chair of the Organization, Professions, and Customer Protection Committee and serves the 18th Assembly District, which involves San Leandro, Hayward, Dublin, most of Castro Valley and Pleasanton, and a portion of Oakland, as nicely as the unincorporated locations of Ashland, Cherryland, San Lorenzo and Sunol.

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