For Immediate Release CONTACT: Mike Belote
September 25, 2008 (916) 441-5859
“As Californians seek to
navigate one of history’s most uncertain economic periods, Governor
Schwarzenegger has acted boldly to protect the American Dream of Homeownership,”
Association President George Eckert said.
“Homeowners and those seeking to become owners will benefit greatly. Governor Schwarzenegger wisely vetoed
Assembly Bill 1830, which would have created a patchwork quilt of regulations
applying only to
To protect consumers and strengthen accountability, the Governor signed the following bills:
· SB 1461 by Senator Gloria Negrete McLeod (D-Montclair) requires real estate agents to disclose their license number on all first point of contact marketing materials and property purchases beginning July 1, 2009.
· SB 1737 by Senator Michael Machado (D-Linden) authorizes the Department of Real Estate (DRE) to suspend or bar a person who has committed a violation of the Real Estate Law if the suspension or bar is in the best interest of the public.
· To help Californians refinancing their mortgages in the aftermath of the foreclosure crisis, the Governor signed SB 870 by Senator Mark Ridley-Thomas (D-Los Angeles) which allows the California Housing Finance Agency to more quickly establish a mortgage refinance program and SB 1065 by Senator Lou Correa (D-Santa Ana) that includes the refinancing of home mortgages in the criteria for a city or county-administered home financing program.
The mission of CMA is for the on-going education of
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