Thursday, May 7, 2009

AB 957 moves closer to passage

Great news, folks! The California Assembly Judiciary Committee voted unanimously this week in favor of Assembly Bill 957, "The Buyer's Act!"

For those of you who aren't up on this legislation, it would allow buyers of bank-owned properties to use their own title and escrow companies, as opposed to banks dictating those choices for them. Consumers who aren't allowed to pick their own title and escrow companies often end up paying up to twice as much in escrow fees to out-of-the-area escrow offices that don't even provide decent service.

Let's all stay on top of this important new bill as it will soon go before the entire state Assembly prior to going to the Senate and governor's desk! If you want to stay on top of the news, please sign up to have my posts sent to you directly.

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    I've worked as an editor/writer for more than 15 years, focusing on everything from housing and employment to banking, technology and development.