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California amends Survivors Bill of Rights to exempt reverse mortgages
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Legislative Developments
Wednesday, September 19, 2018
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California Gov. Jerry Brown has signed legislation that exempts reverse mortgages from the state’s Survivors Bill of Rights (SBOR). The SBOR prohibits mortgage servicers, upon notification that a borrower has died by a person claiming to be a successor in interest, from recording a notice of default until the mortgage servicer gives an opportunity for the claimant to show that he or she is a successor in interest. Read on for more details.
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