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Law updates foreign language disclosures for California modifications
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Legislative Developments
Monday, September 24, 2018
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Calif. Gov. Jerry Brown signed legislation that would require supervised financial organizations that negotiate the modification of any of the terms of a loan or extension of credit secured by residential real property primarily in one of several languages and offers a final loan modification in writing, to deliver to the borrower, at the time of the final loan modification, a specified form summarizing the modified term in the same language as the negotiation. Read on for more details.
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