New Laws Affecting Seniors in 2013
Silver Alert System assists in locating lost seniors
The Silver Alert System is a nationwide system in which media, law enforcement, and the public are notified to help locate lost or missing seniors who have Alzheimer’s or other cognitive disorders. The first Silver Alert call has already helped locate an 82-year old Sacramento man.
California Homeowner Bill of Rights Provides Added Protections for Homeowners
The new Homeowner Bill of Rights protects homeowners in foreclosure from a process called “dual-tracking.” Previously, a lender would sometimes continue to foreclose on a homeowner’s home, even while it was simultaneously considering the homeowner’s application for a loan modification. As of January 1, 2013, if a homeowner requests a loan modification within a certain period of time, the lender or mortgage servicer must temporarily stop foreclosure proceedings while it considers the application. In addition, the law increases penalties for “robo-signing,” a practice in which financial institutions rubber-stamp approval for foreclosures without reading documents.
Financial Elder Abuse Awareness Training and Resources Required for Money Transmission Licensees
Money transmission licensees must provide, on or before April 1, 2013, each of their agents with training materials on recognizing elder or dependent adult financial abuse, and on the appropriate response to suspected elder or dependent adult financial abuse in a transaction.
By Elder Law & Advocacy Attorney Sharon Lee