"For most people their home is the largest purchase they will ever make and this bill puts in place protections against unscrupulous borrowers who could jeopardize the long term value of a homebuyers investment," said Assemblymember Dababneh (D-Encino). "This legislation will protect homebuyers and provide clarity for all parties involved in real estate transactions." Dababneh continued.
AB1770 was developed in cooperation with land title companies and banks, and had bi-partisan support in the Legislature. "With an improved housing market, the pace of HELOC borrowing across the country has increased and both the Legislature and Governor have recognized the importance of making sure homebuyers are protected," said Dababneh.
Website of Assemblymember Dababneh: http://asmdc.org/a45
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Matt Dababneh represents the 45th Assembly District that includes the communities of Bell Canyon, Calabasas, Canoga Park, Chatsworth, Encino, Hidden Hills, Northridge, Reseda, Sherman Oaks, Tarzana, West Hills, Winnetka, and Woodland Hills. Please visit the Assemblymember's website, www.assembly.ca.gov/a45, for more information.
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