From Housing Wire
By Kerry Ann Panchuk
''The Homeowner Bill of Rights launched in California not only changed
hundreds of years of real estate law, it may have turned the West Coast
state into a judicial foreclosure state with financial firms on high
alert, legal experts claim.
"In California, they just gave trial lawyers a nuclear weapon to use against the industry," said Bob Jackson, president and attorney at Irvine, Calif.-based Jackson & Associates. Jackson spoke at HousingWire's REperform Summit, a mortgage servicing conference under way in Dallas.
"The Homeowner Bill of Rights is the most massive change in the last
100 years of real estate law," he said. "It used to be servicers were in
the business of enforcing simple contract law. What the loan servicer
did is they enforced the contract, but that is no longer how the game is
played."
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