Bill 

This bill is misleading as it states it's to help the individual  losing the house by giving them the equity. 

For example, you incur a $1,000 healthcare bill today and pay out of pocket.

Quote from @Bill B.: I agree with everyone and would add:It’s California.

Maybe assume 1 unit out of 5 has a $5,000 unexpected bill every 3 years?)

Professional tenants target mom and pop landlords with poor screening processes...rather than large class A and B properties with professional screening processes that disqualify most problem applicants...and lots of neighbors who actually pay their bills.  

If the taxes were increased and the escrows that were collected up to that point were insufficient to cover the new tax bill, then your future mortgage payment will increase by an amount that will cover the new tax bill AND make up for the shortage from the previous payment.

For the first time I had a credit card (pay it off every month) and bills to pay.

Since you’re concerned about the electric bill, it’s wise to avoid any appearance of a “self-help” eviction.

A local handyman would fit that bill, and perhaps a couple who could shop for and bring in the consumables.