Housing counselor foreclosure survey demonstrates the necessity of SB729, End of “dual track”, State Senate Banking Committee to vote on bill tomorrow

San Francisco, CA – April 27, 2011 – (RealEstateRama) — Tomorrow, the California State Senate Banking & Financial Institutions Committee will vote on SB729, the California Homeowner Protection Act. Introduced by Senator Mark Leno and Senator Darrell Steinberg, SB729 would require loan servicers to give struggling borrowers who apply for a loan modification a yes or no answer before starting the formal foreclosure process.