Commentary
We just heard the language that joined the California version of the Mortgage Debt Relief Bill (SB 30) to the California Homes and Jobs Act (SB 391) has been deleted. SB 391 is a bill that would impose a new $75 recording fee for every real estate document or notice that is required to be recorded. For background on the debate, see our previous blog post here.
While we do not know exactly why the two bills were delinked, we suspect public outcry against the joining of the two bills may have played a role.
Regardless of the reason, we applaud the action as we believe it was the right thing to do.
