Help us extend anti-deficiency protections to homeowners who have refinanced "purchase money" loans and are now facing foreclosure
When is Enough, Enough? The Big Banks are Opposing C.A.R.'s Bill to Protect Borrowers The Vote is TOMORROW! Please Call NOW! C.A.R. is sponsoring SB 1178 (Corbett) to extend anti-deficiency protections to homeowners who have refinanced "purchase money" loans and are now facing foreclosure. Most homeowners didn't even know that when they refinanced they lost their legal protections, and now may be personally liable for the difference between the value of the foreclosed property and the amount owed to the lender. SB 1178 will be voted on THIS WEEK by the entire Senate. One can't help but think, "when is enough, enough?" Banks have already foreclosed upon a family's home and now lenders can continue to hound them for additional payment. How much more money can today's families afford to pay when they've already lost their homes and most likely their jobs? Are they never to have the opportunity to begin again? Action Item Call Senator G...